Cases - Lloyds Bank v Pearce

Record details

Name
Lloyds Bank v Pearce
Date
[1999]; [2000]
Citation
EWHC Ch 217; PNLR 71
Legislation
Keywords
Negligence in valuations and surveys
Summary

The claimant bank, having lent money to a property development company to enable it to purchase a building plot, subsequently brought an action for professional negligence against the solicitors who had acted for the bank in this transaction. When the solicitors raised a defence of limitation, the judge adopted a somewhat technical approach to the valuation of the borrower's covenant to repay, by comparing the total assets of the company with its total liabilities at the relevant time.