Home Information Cases TCB Ltd v Gray (1987)

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TCB Ltd v Gray (1987)

Summary

Signatory to power of attorney estopped from denying due sealing : Overridden by person dealing bona fide without notice : Estoppel as to denying deed sealed

Facts

Defendant's appeal dismissed where he had executed a limited form of guarantee of his company's debenture secured debt. His solicitor with his approval,amended the guarantee so as to make it unlimited,acting under a power of attorney which had not been sealed.

Held

A As to validity of power of attorney- Although it had not been sealed the defendant by signing his name after the words"signed sealed & delivered"was estopped from denying it had been sealed. B As to validity of debenture- Although it had not been executed in accordance with the company's articles, s.9 (1) European Communities Act 1972 deemed the debenture to have been regularly executed & document was valid.

Court of Appeal
Purchas LJ, Nicholls LJ, Russell LJ
Judgment date
7 July 1987
References

[1987] Ch 458 : [1987] 3 WLR 1144 : [1988] 1 All ER 108 : (1987) 3 BCC 503 : [1988] BCLC 281 : [1988] Fin LR 116

Previous Members

hh-judge-david-hodge-qc,HHJ David Hodge QC

Practice areas

trusts-and-settlements,Trusts & Settlements