Trade practices – Misleading or deceptive conduct - Enforcement and remedies - Loan transaction - Mortgage over land - Misleading and deceptive valuation of land by valuer - Failure by lender to make reasonable inquiries as to borrower's capacity to meet interest payments - Default on loan by borrower - Proceeds of sale by mortgagee insufficient to meet borrower's obligation - Liability of valuer for loss and damage suffered by lender - Causal connection between contravention of Trade Practices Act 1974 (Cth) and loss and damage suffered - Whether damages awarded under s 82 of the Trade Practices Act 1974 (Cth) to be reduced for lender's failure to take reasonable care to protect its own interests.
Trade Practices Act 1974 (Cth) – ss 52, 82, 87.
Judgment date
Case number
B48/2001
Before
Gleeson CJ, Gaudron, McHugh, Gummow, Kirby, Hayne, Callinan JJ
Catchwords