Two linked companies were in business from the same premises lending money on mortgage. A loan from one company was made but supported only by documentation in the name of the other. The error was noticed, but new documents not prepared until after completion. In possession proceedings, the lender had to show that the money had been advanced by its associate as its agent. The operative date was the date on which the mortgage advance was made, not on completion.
Citations:
Times 26-Apr-2000, Gazette 25-May-2000, [2000] EWCA Civ 144
Links:
Jurisdiction:
England and Wales
Agency, Land, Legal Professions
Updated: 20 May 2022; Ref: scu.89148