The purchaser bought a property spanning a small river. The lender’s valuer disclaimed any liabillity to the buyer, and a structural report was offered for an additional charge. The property was not sound.
Held: The valuation was negligent, and the defendant lender would be vicariously liable unless liability had been excluded. In the absence of some other estoppel, the exclusion term had to pass the test of reasonableness under the Act. Given that the purchaser was himself an estate agent and properly experienced in such matters, the exclusion clause was reasonable.
J Wilmers QC
(1984) 272 EG 663
Unfair Contract Terms Act 1977
England and Wales
Updated: 28 June 2021; Ref: scu.219192