12 - Negligence Flashcards

1
Q

What is a Duty of Care

A

This exists to clients and third parties, using a “reasonable care and skill”.

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2
Q

When a duty of care is breached, what happens?

A

If there is a loss, a claim for damages arises (aka negligence)

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3
Q

How might you avoid claims of negligence made against you?

A
  • Follow RICS guidance
  • understand client requirements
  • clearly outline these in your scope of works terms of engagement
  • ensure competence before proceeding
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4
Q

What is the legally acceptable Margin of Error in Property Valuation?

A

An acceptable margin of error is +/- 5% for single residential properties, +/- 10% for single commercial properties, and +/- 15% for more complex holdings.

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5
Q

What happened in Yianni v Edwin Evans (1981)

A

Residential valuer instructed by a mortgage lending insitution could owe a duty of care in tort to a mortagee purchaser relying on a valuation.

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6
Q

What is set out in the limitation act 1980?

A

In England and Wales, the limitation period may be:
* 6 years frin then the service was provided
* 6 years from when a loss was suffered
* a long-stop position of 15 years if the claimant did not know a loss was suffered earlier or 12 years, depending on the yupes of instruction adn the type of claim

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