An option had been given for the purchase of land. The claimant challenged the value assigned on exercising the option. The landowner subsequently disclosed a right of way over the land.
Held: An expert’s valuation cannot be challenged if it is honest, and given in good faith. It cannot be challenged for mistake. The valuation was non-speaking in that no justification was given. The less is said, the more difficult it is for a valuation to be challenged. A notional vendor who ruthlessly exploits a purchaser (see Northern Electric) must be disregarded because he would not be a willing vendor or lessor. Nevertheless to argue so must be to import reasons merely to challenge them. Appeal dismissed.
Judges:
Lord Justice Robert Hutchison, Lord Justice Robert Walker, Lord Justice Tuckey
Citations:
[1998] EWCA Civ 1905
Jurisdiction:
England and Wales
Citing:
Cited – Jones v Sherwood Computer Services Limited plc CA 1992
A contract provided for the sale and purchase of shares. In the absence of agreement a third party firm of accountants would act as valuer as an expert, and his decision was to be final and binding on the parties. One party now appealed a decision . .
Cited – Campbell v Edwards CA 1976
The court looked at its ability to set aside an expert’s certificate as to value.
Held: If an expert valuer has undertaken his task honestly and in good faith, the outcome cannot be challenged simply because he has made a mistake or one side . .
Cited – Stokes v Cambridge Corporation LT 1961
The tribunal considered case concerned 5.1 ha of land with an assumption of planning permission for industrial development under Planning legislation. There was only one possible access over adjoining land in different ownership.
Held: When . .
Cited – Northern Electric Plc v Addison CA 12-Jun-1997
The appellant challenged the terms of an order granting it a new lease under the Act. The landlord sought to have included an upwards only rent review. There was a ransom element since the plot was used as a base for an electricity sub-station which . .
Lists of cited by and citing cases may be incomplete.
Contract, Arbitration
Updated: 27 November 2022; Ref: scu.145384