The Miller Group Ltd v Tasker 1993 SLT 207
Citation: The Miller Group Ltd v Tasker 1993 SLT 207
Link to case on WorldLII (reference).
Rule of thumb: When an agent is instructed to sell property, what standard is expected of them? What is the minimum price they must get or else they break the law? They are expected to conduct a ‘judicial sale’ – this means that they follow ‘well recognised practice’ & remit to experts when necessary to make the sale. There does not always have to be an ‘auction’ if an offer within an acceptable range is made & the expert decides it should be sold for this price. It has to be a clear breach of standard practices before a Court will uphold that assets were sold at undervalue. The actual price is unimportant; what is important is the process that is followed.
Judgment:
‘The effect of the case of Campbells [v Murray 1972 SLT 249] was to displace what might have been regarded as a presumption based on practice in favour of sale by public roup… it did not… substitute for it a presumption in favour of sale by private bargain... The common goal of all parties obviously is to achieve the best bargain which can be obtained in all the circumstances. It is to be assumed that in conducting a judicial sale, the court will have available to it all the expert advice which is necessary and it is a well recognised practice to remit to a valuer to examine and report on all questions which may arise in connection with that sale. It may well be the case that in modern times a sale by private bargain will in most cases prove to be the best way, as was recognised in Campbells v Murray. On the other hand, for all the court knows, there may be situations in which a sale by public roup is to be preferred. These are questions upon which the court may wish to inform itself, not least when the co-owners have, as in this case, expressed different views on the proper way in which to proceed... We wish to emphasise that the matter is basically a practical one and accordingly there is everything to be said for flexibility of approach rather than the court creating presumptions to which adherence may be required... not based on law but were of the nature of ex parte statements concerned with the practical mechanics of a sale of property. In our opinion such problems are properly for the court, acting upon the advice of a reporter, to resolve’, Court opinion
Warning: This is not professional legal advice. This is not professional legal education advice. Please obtain professional guidance before embarking on any legal course of action. This is just an interpretation of a Judgment by persons of legal insight & varying levels of legal specialism, experience & expertise. Please read the Judgment yourself and form your own interpretation of it with professional assistance.