A person is deceived by a fraudster into selling to him, at an under-value, a valuable and appreciating chattel which he bought as an investment and which, but for the deceit, he would otherwise have retained for himself (and thus benefited from any appreciation in its value). The issue raised in this appeal is whether, in the computation of damages for deceit, and specifically, the head of damages compensating the victim for the loss of that investment opportunity, the victim is obliged to give credit to the fraudster not only for the cash he received as part of the fraudulently induced sale transaction, but also for the ‘time value’ of that money in the period between that transaction and the trial.
Judges:
Lord Justice Coulson
Lord Justice Baker
And
Lady Justice Andrews
Citations:
[2022] EWCA Civ 23
Links:
Jurisdiction:
England and Wales
Damages, Torts – Other
Updated: 01 February 2022; Ref: scu.671228