Cases - Mount Banking Corporation Ltd v Brian Cooper & Co

Record details

Name

Mount Banking Corporation Ltd v Brian Cooper & Co

Date

[1992]

Citation

2 EGLR 142

Keywords

Negligence in valuations and surveys

Summary

In stark contrast to the view expressed in the McIntyre case, the judge in this case (which concerned a mortgage valuation of an office development property) stated:

'If the valuation that has been reached cannot be impeached as a total, then, however erroneous the method or its application by which the valuation has been reached, no loss has been sustained because ... it was a proper valuation.'

The parties agreed that 17.5% was an appropriate margin of error.