In what circumstances have courts found that the appraiser of a mortgage was not able to provide a limitation on the face of the appraisal?
British Columbia, Canada
The following excerpt is from Seeway Mortgage Investment Corporation v. First Citizens Financial Corporation, 1983 CanLII 429 (BC SC):
In Cantwell v. Petersen, supra, p. 300 [25 R.P.R.], Cashman L.J.S.C. said: It is my respectful view a reasonable conclusion to conclude from all of the circumstances of this case that as there was no limitation on the face of the appraisal the defendant, as he conceded, must be taken to have known that the purchasers, here the plaintiffs, might rely as they did upon the appraisal, or that the mortgage company would rely upon the appraisal and base the amount of the mortgage on the appraisal figures shown. (The italics are Hamilton L.J.S.C.'s.)
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