Case Law

Question 1

Negligence

Answer 1

Yanni and Edwin Evans 1981

Question 2

Yanni and edwin evans 1981

Answer 2

A residential value instructed by a lender could owe a duty of care in tort to the borrower relying on a valuation

Question 3

Run off

Answer 3

Merit and Babb 2001

Question 4

Merit v Babb 2001

Answer 4

Babb did not have cover after firm dissolved and provided negligent advice - court ruled Babb was liable

Question 5

Japanese knottweed

Answer 5

Williams vs network rail 2018

Question 6

Williams vs network rail 2018

Answer 6

Defendant liable for treating in side plant and damages

BUT NOT reduced property value

Question 7

Agency rights

Answer 7

Fleurets v Dashwood 2007

Question 8

Fluerets vs dashwood 2007

Answer 8

Fleurets engaged on sole agency basis with sole selling rights

Purchaser not introduced but had a clause in TOE - and sued for a fee

Question 9

Reasonableness - misrepresentation

Answer 9

Hedley Byrne v heller 1964

Question 10

Hedley Byrne v heller 1964

Answer 10

Test for reasonableness

1. Foreseeability
2. Proximity
3. Fairness

Question 11

When does misrepresentation apply to

Answer 11

Pre contractual phase

Question 12

When do consumer protection regulations relate to

Answer 12

Entire agency process

Question 13

Studio specification

Answer 13

Steel portal frame construction
Insulated profile cladding walls
Low pitched roof
Full height loading doors
8m clear eaves
Suspended walk ways

Question 14

What is the difference between the listings

Answer 14

Grade 1 - exceptional interest
Grade 2* - important buildings of more than special interest
Grade 2 - specialist interest

Question 15

Finished surface

Answer 15

The wall surface directly above the horizontal wall floor junction ignoring skirting boards

Question 16

Early neutral evaluation

Answer 16

Independent non binding opinion

Question 17

ADR

Answer 17

Resolution processes that fall outside the scope of court litigation

Question 18

Mediation

Answer 18

Neutral facilitator
Confidential and informal
Without prejudice basis
Not legally binding

Question 19

Arbitration

Answer 19

Arbitrator - quasi judicial role - follows the arbitration act 1996

Parties bound by decision can award costs

Cannot be sued for negligence

Highly specialised knowledge

Can be overruled by court of appeal

Fast cost effective confidential

Question 20

Independent expert determination

Answer 20

IE appointed by parties

Both parties bound by the decision based on evidence provided by both parties

Duty to make own investigations

Can be sued for negligence

Ability to award cost depends on contract

Quick and IE has specialist knowledge

Question 21

What to refer to if an independent expert determination

Answer 21

Guidance note: independent expert determination 2016

Question 22

Ombudsman

Answer 22

Confidentially receive case details and instigate a resolution of complaint

Question 23

Key changes to uk national supplement

Answer 23

VPGA 10 - incorporates new ESG principles

VPGA 8 - updated to align with the Charities Act 2022

Introduces mandatory rotation periods

Question 24

What are regulated purpose vals

Answer 24

Any vals that in the public interest and are relied on my third parties who have not commissioned that valuation

Question 25

Is RCA red book

Answer 25

No - not written opinion of value

Question 26

Purpose of the Valuer registration scheme

Answer 26

To improve the quality of valuation and ensure highest professional standards To meet rics requirement to self regulate To protect and raise the status of the valuation profession

Question 27

Is the VRS mandatory

Answer 27

Not mandatory for valuation work excluded from the red book Have to completed APC to L3

Question 28

Hope value

Answer 28

An element of market value in excess of the existing use value reflecting the prospect of some more valuable future use

Question 29

Limitations of residual valuation method

Answer 29

Very sensitive to minor adjustments highlighting the importance of accurate inputs and information

Question 30

Health and safety policy document

Answer 30

Hard copy Containing 4 things: 1. Commitment to health and safety 2. Details of organisations H&S structure - roles and responsibilities 3. Risk assessment for work place risks 4. Planning and implementation of policy and control measures

Question 31

The Better building partnership pledge - uk green building council framework

Answer 31

1. Establish net zero carbon scope 2. Reduce construction impacts 3. Reduce operational energy use 4. Increase renewable energy supply 5 offset any remaining carbon as a last resort

Question 32

What must the front page of an epc include

Answer 32

1. Address 2. Floor area 3. Reference number 4. Technical information 5. Estimation of energy running costs 6. Rating 7. Benchmarking information

Question 33

Epc penalty

Answer 33

12.5% RV MAX 5k

Question 34

ESOS scheme

Answer 34

Mandatory for large uk undertakings - those who employ more than 250 Have to measure and report energy consumption Conduct energy audits Report compliance to environment agency

Question 35

Climate change levy

Answer 35

Tax on energy delivered to non domestic users in UK

Question 36

Display energy certificates

Answer 36

Required for public buildings over 250 sq m display actual energy used and co2 emissions

Question 37

Compression yield

Answer 37

Describes a situation whereby the price of an asset increases to reflect the difference between cost of borrowing and the investment yield