Where a solicitor's negligence results in a defective financial agreement that is wholly ineffective, the 'damaged asset' characterisation is available such that loss is suffered immediately upon delivery of the agreement, potentially rendering a later negligence claim statute-barred. However, the 'contingent loss' characterisation from Wardley may also be available on the same facts, and the Court of Appeal has expressly noted the unsatisfactory uncertainty in this area. Legal fees paid to a negligent solicitor may not be recoverable as damages in negligence where the fees would have been incurred in any event absent the negligence, though this question was not finally determined.
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