000			01348cab a2200265 4500
001			ABS50743
008			090401t1994 xxu||||| |||| 00| 0 eng d
035			_a(Sirsi) u32757
041			_aeng
245			_aCraneheath Securities Ltd v York Montague Ltd
260			_c1994
350			_a0
490			_aEstates Gazette _v(1994) 21 EG 124-130(6)
520			_aChD 3 December 1993. C lent money to T, owner of a restaurant. As security a charge was placed on the property, the valuation of which was carried out by Y. The valuation depended on an assessment of turnover and was for open market value. When the restaurant subsequently closed it was sold for substantially less than the value given by Y. C lost both principal and interest. C sued Y for negligence, the sum being lost as a result of reliance on a negligent valuation. Y counterclaimed for contributory negligence. C`s claim was dismissed as Y was found to have acted in accordance with the RICS `Red book` guidance and had accurately established the turnover.
650			_aASSET VALUATION
650			_aMARGIN OF ERROR
650			_aNEGLIGENCE
650			_aOPEN MARKET VALUE
650			_aRISK
650			_aVALUERS
690			_aMANAGEMENT-BUSINESS MANAGEMENT-PROFESSIONAL PRACTICE
690			_aRATING AND VALUATION-CASE LAW
942			_n0
948			_c04/03/1997
999			_c21894 _d21894