Omega Trust Ltd and another v Wright Son & Pepper and another
Language: English Series: Estates Gazette ; [1997] 18 EG 120-123(4)Publication details: 1997Subject(s): Summary: CA 17 December 1996. N sought a loan from O, who requested the second plaintiff (X) to provide part of the advance. At O`s request, W provided a copy of a valuation report they had prepared for N of three short leasehold interests - to be provided as security. The report made it clear that it was for O`s purpose only. W were not informed X would rely on the report. N defaulted on loan and plaintiffs claimed valuation negligent. Lower court held W owed duty of care to X and that disclaimer did not satisfy test of reasonableness under the Unfair Contract Terms Act 1977. W appealed. Appeal allowed.| Item type | Current library | Call number | Copy number | Status | Barcode | |
|---|---|---|---|---|---|---|
| Law report | London Journal article | ABS57031 (Browse shelf(Opens below)) | 1 | Available | 78271-1001 |
CA 17 December 1996. N sought a loan from O, who requested the second plaintiff (X) to provide part of the advance. At O`s request, W provided a copy of a valuation report they had prepared for N of three short leasehold interests - to be provided as security. The report made it clear that it was for O`s purpose only. W were not informed X would rely on the report. N defaulted on loan and plaintiffs claimed valuation negligent. Lower court held W owed duty of care to X and that disclaimer did not satisfy test of reasonableness under the Unfair Contract Terms Act 1977. W appealed. Appeal allowed.