The obligation of a mortgagee having taken possession of a property to obtain a proper price, was an obligation due in equity, and not either under the contract for the loan or as associated with the speciality agreement giving the property in charge. Nevertheless the claim was akin to an action for damages for negligence, and the period of limitation governing the action was six years.
Citations:
Times 16-May-2000
Statutes:
Jurisdiction:
England and Wales
Limitation, Professional Negligence
Updated: 03 April 2022; Ref: scu.85655