507. In general.

(ii)     Professional Standards

507.     In general.

The standard which a valuer or surveyor is required to achieve is that of the ordinary skilled person exercising the same skill as himself1. He is not liable for a mere error of judgment, unless the error was one that no reasonably well-informed and competent member of the profession could have made2. The required standard will normally be the same whether a claim is made in contract or tort3, and whether it is made by a client or a third party4.

Whether or not a valuer has exercised