Under s 420A(1)(a) of the Corporations Law, the measure of compensation for breach of the duty to take all reasonable care is the difference between market value (as defined in Spencer v The Commonwealth) and the sale price actually obtained — not the difference between the best price achievable with proper marketing and the sale price. If the property is sold for at least its market value, the mortgagor suffers no loss even if the mortgagee breached its duty. Expert witnesses must disclose any employment or other relationship with the party calling them, but the existence of such a relationship does not render the evidence inadmissible — it goes to weight.
The full text is available to signed-in members, including the 13 later cases that cite this judgment.
2 of the 13 citing cases carry a classified treatment. How each court treated it is available to signed-in members.