000			01980cam a2200229 4500
001			ABS61995
008			000000n2000 000 0 eng u
035			_a(Sirsi) u104484
245			_aPortman Building Society v Bevan Ashford (a firm) and others
260			_c2000
490			_aEstates Gazette _v07 [2000] EG 131-138(8)
520			_aIn July 1990 Mr and Mrs G acquired a property for £218,000 with a 75% loan provided by a predecessor in title of the Portman Building Society (P) and secured by mortgage. The balance of £50,000 was met by a second charge in favour of the vendor. A partner of the first defendant firm of solicitors (B) acted for the vendor and a second solicitor in the same firm acted for the purchasers and the building society. The purchasers defaulted on repayments. P recovered possession of the property and sold it for £110,000. P brought proceedings against the solicitor for breach of retainer, negligence, breach of fiduciary duty and breach of trust, in particular that the solicitor failed to inform them that Mr and Mrs G were taking out a second mortgage. Longmore J held that the solicitor was also liable in respect of the partner acting for the vendor as he did so contrary to P's standing instructions. He decided that if P had known the true facts it would not have given them a loan, P was therefore entitled to recover the whole of its loss. The first defendant appealed on the grounds that; damages should have been assessed as at the date when the cause of action arose; the measure of damages should only be nominal; credit should be given for the proceeds of a mortgage indemnity guarantee policy. Appeal dismissed.
590			_aABS
650			_aPORTMAN BUILDING SOCIETY V BEVAN ASHFORD (A FIRM) AND OTHERS
650			_aNEGLIGENCE
650			_aFRAUD
650			_aMEASURE OF DAMAGES
650			_aSOLICITORS
650			_aMORTGAGES
690			_aPROFESSIONAL PRACTICE-NEGLIGENCE-CASE LAW
942			_n0
999			_c62687 _d62687