Cases - Etam plc v Baker Almond

Record details

Name

Etam plc v Baker Almond

Date

[2001]

Citation

EGCS 21

Keywords

Negligence in valuations and surveys

Summary

In 1984, the defendant agents represented the claimants in an unsuccessful attempt to purchase certain substantial retail premises. A year later, when these premises unexpectedly came back on to the market, the claimants agreed in principle to acquire them. However, to obtain the agreement of their own board of directors, they required what was described as a 'letter of comfort' from the defendants, giving some assurance that they were not paying too much for the property. The claimants later alleged that the advice given in this letter was negligent. At trial, the defendants accepted that the letter was to be treated as a valuation, in that it contained their professional opinion as to the open market value of the property at the relevant time. However, it was held on the facts that the advice given was not negligent.