The cost of failure to complete in the case Hooper v Oates
After failing to complete on the purchase of a property and a subsequent diminution in value, the proposed buyers in the case Hooper v Oates were found liable for damages to be assessed at some later date, taking into account the state of the market. The case emphasises that, providing a thwarted seller takes reasonable steps to mitigate loss after a failure to complete, for example, by actively remarketing the property, the loss that may occur from a fall in market prices can be reclaimed from the proposed buyer…
If you are registered and logged in to the site, click on the link below to read the rest of the Walker Morris briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
Why register to The Lawyer
More relevant to you
News from Walker Morris
News from The Lawyer
Briefings from Walker Morris
The FBI ’Darkode’ arrests are just the tip of the iceberg. This briefing highlights risks to you in five key areas.
Consultation on tax relief reform likely to lead to heated debate.
Analysis from The Lawyer
Which firms are cutting it in this era of slimline rosters, and who are the GC new brooms making clean sweeps? The Lawyer can reveal all
The law school war shows no signs of ending. But we have, perhaps, reached the end of the beginning.