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Smith New Court Securities Ltd V Scrimgeour Vickers (Asset Management) Ltd
''Smith New Court Ltd v Scrimgeour Vickers (Asset Management) Ltd'' 996UKHL 3is an English contract law case concerning Misrepresentation in English law">misrepresentation. It illustrates the damages available for deceit. Facts An employee of Scrimgeour, Mr Roberts, fraudulently told Smith New Court that there were close rival bids for buying shares in Ferranti IS Inc. Smith bought £23.1m worth of shares. Ferranti then revealed it was a victim of a massive fraud (the ‘Guerin’ fraud, an American businessman had sold them a worthless company) and the share price fell considerably. Smith sold the shares for £11,788,204, a loss of £11,353,220. Smith then brought an action for deceit. Judgment Court of Appeal The Court of Appeal awarded £1,196,010 in damages to reflect the difference between what was paid and the market value at the date of purchase. House of Lords Lord Browne-Wilkinson held that Smith New Court was entitled to the full loss of £11.3m. He laid down seven pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Browne-Wilkinson
Nicolas Christopher Henry Browne-Wilkinson, Baron Browne-Wilkinson, PC (30 March 1930 – 25 July 2018) was a British judge who served as a Lord of Appeal in Ordinary from 1991 to 2000, and Senior Lord of Appeal in Ordinary from 1998 to 2000. Life and career Browne-Wilkinson was the sixth child and only son of the Rev Canon Arthur Browne-Wilkinson, MC, and of Mary Abraham, daughter of Charles Abraham, Bishop of Derby. He was educated at Lancing and at Magdalen College, Oxford, where he took a First in Jurisprudence in 1952. He was called to the Bar at Lincoln's Inn in 1953 and took silk in 1972. He was a judge of the Court of Appeal of Jersey and of Guernsey from 1976 to 1977. In 1977, Browne-Wilkinson was appointed a Justice of the High Court of Justice and assigned to the Chancery division, receiving the customary knighthood. He was promoted as a Lord Justice of Appeal in 1983, and was of sworn of the Privy Council. From 1985 to 1991 he was Vice-Chancellor, the ''de fac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Keith Of Kinkel
Henry Shanks Keith, Baron Keith of Kinkel, (7 February 1920 – 21 June 2002) was a British judge. The son of James Keith, Baron Keith of Avonholm, Harry Keith was educated in the Edinburgh Academy, at Magdalen College, Oxford, where he graduated with a Master of Arts and the University of Edinburgh, where he graduated with a Bachelor of Law. In the Second World War, he was an officer in the Scots Guards and was mentioned in dispatches, reaching the rank of Captain. He was admitted to the Faculty of Advocates in 1950, and was made a Queen's Counsel in 1962. In 1951, he had been called to the English Bar from Gray's Inn, where he became a bencher in 1976. He appointed as Sheriff of Roxburgh, Berwick and Selkirk in 1970, succeeding David Brand. He was appointed a Senator of the College of Justice with the judicial title Lord Keith in 1971. On 10 January 1977, he was appointed Lord of Appeal in Ordinary and was made additionally a life peer with the title Baron Keith of Kink ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Mustill
Michael John Mustill, Baron Mustill, PC, FBA (10 May 1931 – 24 April 2015) was an English barrister and judge. He was a Lord of Appeal in Ordinary from 1992 to 1997. Life and career The son of Clement William and Marion Mustill, he was educated at Oundle School and St John's College, Cambridge, where he graduated with a Doctor of Laws in 1992. He served in the Royal Artillery from 1949 to 1951, was called to the Bar, Gray's Inn in 1955, became a Queen's Counsel in 1968 and a Bencher in 1976. Mustill was Deputy Chairman of the Hampshire Quarter Sessions in 1971. He was made Chairman of the Civil Service Appeal Tribunal in 1971 and Recorder of the Crown Court in 1972, holding both posts until 1978, when he was knighted. Mustill was a judge of the High Court, Queen's Bench Division from 1978 to 1985 and Presiding Judge, North Eastern Circuit from 1981 to 1984. From 1985 he was Chairman of the Judicial Studies Board until 1989, Chairman of the Departmental Committee on Law of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Slynn Of Hadley
Gordon Slynn, Baron Slynn of Hadley (17 February 1930 – 7 April 2009) was a British judge and Advocate General of the European Court of Justice. He particularly specialised in European law. He was a Lord of Appeal in Ordinary. Early life Slynn was born on 17 February 1930 to John and Edith Slynn and educated at Sandbach School, Goldsmiths, University of London, and Trinity College, Cambridge. He was called to the bar at Gray's Inn in 1956 before moving to One Hare Court alongside Fisher, Neil, Parker, and Richard Southwell QC, becoming a bencher in 1970 and Treasurer in 1988. He served as Junior Counsel to the Ministry of Labour between 1967 and 1968. He was the First Junior Treasury Counsel (Common Law), or "Treasury Devil", from 1968 to 1974. Lord Denning said about Slynn in his capacity as such: "He was outstanding. The best I have ever known. He will go far." His successful application to take silk in 1974 coincided with his becoming the first Leading Counsel to the Tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lord Steyn
Johan van Zyl Steyn, Baron Steyn, PC (15 August 1932 – 28 November 2017) was a South African-British judge, until September 2005 a Law Lord. He sat in the House of Lords as a crossbencher. Early life and education Steyn was born in Stellenbosch in the Union of South Africa, the son of Janet Lacey Blignaut and Izak van Zyl Steyn, a professor of law at the University of Stellenbosch. His father died before he turned three years old and he subsequently were sent to live with his paternal grandparents. He received his schooling at the Hoërskool Jan van Riebeeck in Cape Town where he matriculated in 1950. He studied law at the University of Stellenbosch before reading Law as a Rhodes Scholar at University College, Oxford. Career He was called to the Bar in South Africa in 1958 and appointed a Senior Counsel of the Supreme Court of South Africa in 1970. As a result of his opposition to apartheid in his native South Africa, he settled in the UK in 1973, joining the English Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misrepresentation
In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "representation" is a pre-contractual statement made during negotiations. If a representation has been incorporated into the contract as a term, then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has beco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Deceit
Deception or falsehood is an act or statement that misleads, hides the truth, or promotes a belief, concept, or idea that is not true. It is often done for personal gain or advantage. Deception can involve dissimulation, propaganda and sleight of hand as well as distraction, camouflage or concealment. There is also self-deception, as in bad faith. It can also be called, with varying subjective implications, beguilement, deceit, bluff, mystification, ruse, or subterfuge. Deception is a major relational transgression that often leads to feelings of betrayal and distrust between relational partners. Deception violates relational rules and is considered to be a negative violation of expectations. Most people expect friends, relational partners, and even strangers to be truthful most of the time. If people expected most conversations to be untruthful, talking and communicating with others would require distraction and misdirection to acquire reliable information. A significant amount ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
English Contract Law
English contract law is the body of law that regulates legally binding agreements in England and Wales. With its roots in the lex mercatoria and the activism of the judiciary during the industrial revolution, it shares a heritage with countries across the Commonwealth of Nations, Commonwealth (such as Australian contract law, Australia, Canadian contract law, Canada, Indian contract law, India), from membership in the European Union, continuing membership in Unidroit, and to a lesser extent the United States. Any agreement that is enforceable in court is a contract. A contract is a Voluntariness, voluntary Law of obligations, obligation, contrasting to the duty to not violate others rights in English tort law, tort or English unjust enrichment law, unjust enrichment. English law places a high value on ensuring people have truly consented to the deals that bind them in court, so long as they comply with statutory and UK human rights law, human rights. Generally a contract forms w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Misrepresentation In English Law
In common law jurisdictions, a misrepresentation is a false or misleading '' R v Kylsant'' 931/ref> statement of fact made during negotiations by one party to another, the statement then inducing that other party to enter into a contract. The misled party may normally rescind the contract, and sometimes may be awarded damages as well (or instead of rescission). The law of misrepresentation is an amalgam of contract and tort; and its sources are common law, equity and statute. In England and Wales, the common law was amended by the Misrepresentation Act 1967. The general principle of misrepresentation has been adopted by the United States and other former British colonies, e.g. India. Representation and contract terms A "representation" is a pre-contractual statement made during negotiations. If a representation has been incorporated into the contract as a term, then the normal remedies for breach of contract apply. Factors that determine whether or not a representation has beco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ferranti
Ferranti or Ferranti International plc was a UK electrical engineering and equipment firm that operated for over a century from 1885 until it went bankrupt in 1993. The company was once a constituent of the FTSE 100 Index. The firm was known for work in the area of power grid systems and defence electronics. In addition, in 1951 Ferranti began selling an early computer, the Ferranti Mark 1. The Belgian subsidiary lives on as Ferranti Computer Systems and as of 1994 is part of the Nijkerk Holding. History Beginnings Sebastian Ziani de Ferranti established his first business Ferranti, Thompson and Ince in 1882. The company developed the Ferranti-Thompson Alternator. Ferranti focused on alternating current power distribution early on, and was one of the few UK experts. To avoid confusion, he is often referred to as Dr Ferranti to distinguish him from the Ferranti company itself. In 1885 Dr Ferranti established a new business, with Francis Ince and Charles Sparks as partners, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Company Law
The United Kingdom company law regulates corporations formed under the Companies Act 2006. Also governed by the Insolvency Act 1986, the UK Corporate Governance Code, European Union Directives and court cases, the company is the primary legal vehicle to organise and run business. Tracing their modern history to the late Industrial Revolution, public companies now employ more people and generate more of wealth in the United Kingdom economy than any other form of organisation. The United Kingdom was the first country to draft modern corporation statutes, where through a simple registration procedure any investors could incorporate, limit liability to their commercial creditors in the event of business insolvency, and where management was delegated to a centralised board of directors. An influential model within Europe, the Commonwealth and as an international standard setter, UK law has always given people broad freedom to design the internal company rules, so long as the mandato ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
South Australia Asset Management Corpn V York Montague Ltd
''South Australia Asset Management Corporation v York Montague Ltd'' and ''Banque Bruxelles Lambert SA v Eagle Star Insurance Co Ltd'' 996UKHL 10is a joined English contract law case (often referred to as "SAAMCO") on causation and remoteness of damage. It arose out of the property crash in the early 1990s, whereby banks were suing valuers for overpricing houses in order to recover the lost market value. Owners themselves often had little or no money, since they had fallen victim to negative equity, so mortgage lenders would pursue a valuer instead to recover some losses. The legal principle arising from the case is often referred to as the "SAAMCO principle". Facts In the South Australia case, a valuer had (in breach of an implied term to exercise reasonable care and skill) negligently advised his client bank that property which it proposed to take as security for a loan was worth much more than its actual market value. The question was whether he should be liable not only for ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
