Cases - Cuckmere Brick Co Ltd v Mutual Finance Ltd

Record details

Name

Cuckmere Brick Co Ltd v Mutual Finance Ltd

Date

[1971]

Citation

CH 949, CA

Keywords

Negligence in valuations and surveys

Summary

In handling the sale of certain repossessed property on behalf of lenders, auctioneers were negligent in failing to appreciate the potential for developing the property as flats and to market it accordingly. As a result, the property was sold at an undervalue, for which the lenders were held liable to the borrowers. In the course of giving judgment in the Court of Appeal, one of the judges stated that the auctioneers would, if sued, have been personally liable.