(Solved) A land appraiser prepared an appraisal of a property for a real estate development company. The ...

A land appraiser prepared an appraisal of a property for a real estate development company. The appraiser had been told that the appraisal would be used by the company to attract potential investors. Because the appraiser forgot to check the recent changes in the zoning by-laws, the appraisal was not accurate; the investor, a party unknown to the appraiser, was misled about the value of the land and, consequently, suffered a financial loss. On these facts, which of the following is true?

▸ A land appraiser owes a duty of care to his client and the company, but not to any potential investors.

▸ A person cannot be sued for words that cause loss, only for actions that cause physical injury.

▸ The investor may sue the appraiser for negligent misstatement that resulted in economic loss.

▸ A land appraiser owes a duty of care to his client and to potential investors only if he knows the name of the investor.

▸ The investor must suffer his own loss, because an investor takes the risk and so must take care.

Home Search Q & A Board Gallery Resource Library Blog Dictionary Chat	Quick Links Start a Topic Latest Topics Unanswered Questions Courses Study Tools Browse by Textbook	Social Facebook YouTube Community Stats Who's Online Trending Staff	Help About Us Take the Tour Study Tips Posting Guidelines Terms and Policies Contact Us
Biology Forums - Study Force © 2010-2024 \| Powered by SMF \| SMF © 2015, Simple Machines \| Sitemap Biology-Forums.com is not affiliated with any publisher. Book covers, title and author names appear for reference only.

A land appraiser prepared an appraisal of a property for a real estate development company. The ...

Legal Fundamentals for Canadian Business

Related Topics