Wiggin Osborne Fullerlove (a firm) v Bond

Wiggin Osborne Fullerlove (a firm) v Bond

The borrower under the loan was Mr Bond, who is straightforwardly liable as principal. No specific corporate entity was identified at the time of agreement, and the evidence shows the loan was requested and agreed without mention of a particular company. Even if Mr Bond acted for a disclosed but unidentified principal, the circumstances point to his personal liability. The loan was for a fixed term of 30 days at 10% APR, later repayable on demand at 5% APR.

Parties
Claimant: Wiggin Osborne Fullerlove (a firm); Defendant: David Keith Bond
Jurisdiction
England and Wales
Judgment Date
26 May 2021
Procedural Posture
Commercial Claim / Final Judgment
Outcome
judgment for the claimant
Legal Topics
Personal Liability, Loan Agreements, Corporate Veil, Misrepresentation, Oral Contracts
Contract Law Agency Law Personal Liability Loan Agreements Corporate Veil Misrepresentation Oral Contracts

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Parties

Wiggin Osborne Fullerlove (a firm)

Claimant

David Keith Bond

Defendant

Procedural Posture

Commercial Claim / Final Judgment

Legal Issues

  1. 1 Is the defendant personally liable for repayment of the £626,000 loan?
  2. 2 What were the terms of the loan agreement?
  3. 3 Was the loan made to a corporate entity or to the defendant personally?

Ratio Decidendi

The borrower under the loan was Mr Bond, who is straightforwardly liable as principal. No specific corporate entity was identified at the time of agreement, and the evidence shows the loan was requested and agreed without mention of a particular company. Even if Mr Bond acted for a disclosed but unidentified principal, the circumstances point to his personal liability. The loan was for a fixed term of 30 days at 10% APR, later repayable on demand at 5% APR.

Court Disposition

judgment for the claimant

Orders

  • Defendant to repay £626,000 loan with interest to claimant