A valuer’s certificate was binding where he as expert had valued machinery himself whereas his instructions were to employ an expert valuer of his choice to do that. He had also he valued the shares on a break-up basis whereas he was instructed to use a going-concern basis. Ungoed-Thomas J said: ‘the defendant’s contention that an error in principle does not vitiate a valuation unless it is shown by the person relying on it that it also results in a materially different valuation, both in the part of the valuation subject to error and in the overall valuation.’
Judges:
Ungoed-Thomas J
Citations:
[1971] 1 WLR 840
Cited by:
Cited – Veba Oil Supply and Trading Gmbh v Petrotrade Inc CA 6-Dec-2001
A dispute between parties to a contract was to be determined by an independent expert. It was claimed that his report was not binding on the parties, since he had departed from his instructions in a material way. In this context, what constituted a . .
Lists of cited by and citing cases may be incomplete.
Company
Updated: 29 April 2022; Ref: scu.183278
