What is the ratio in Palk v Mortgage Services Funding?

A mortgagee exercising power of sale must take reasonable care to obtain true market value but is not obliged to delay sale to achieve the best possible price.

What did the court decide in Palk v Mortgage Services Funding?

The Court of Appeal held that mortgagees must obtain current market value but needn't wait for market improvements or enhance the property before sale.

Why is Palk v Mortgage Services Funding important for mortgage law?

It defines the practical limits of mortgagee duties on sale, balancing prompt realization against achieving best price.

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