Rescission Part 2 Flashcards
Northern Bank Finance Corp Ltd v Charlton [1979] IR 149
Misrepresentation: Bank lends money on a misrepresentation, defaulted on loan, bank sued
Court granted rescission as the defendants had been induced by a fraudulent misrepresentation to enter into the transactions
Appealed to the SC, and SC agreed with Charlton
However, SC disagreed with granting recission, as it was impossible to return the parties to their original position
Carroll v Carroll [1999] 4 IR 241 (SC)
Bank of Nova Scotia v Hogan [1996] 3 IR 239
Banks only put on inquiry where there was a non-commercial relationship between borrower and surety, and no need for bank to have a separate meeting with the wife if wife got independent legal advice. However, it was for bank to satisfy itself that this requirement had been met.
