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Building contingencies into the contract: Most real estate contracts have contingencies that give sellers cause to back out. For instance, the seller may say they will only sell their property if ...
The modern trend in the U.S. is that the implied warranty of fitness for a particular purpose applies in the real-estate context to only the sale of new residential housing by a builder-seller and that the caveat emptor rule applies to all other real-estate sale situations (e.g. homeowner to buyer). [3]
The seller disclosure notice or statement is anecdotal and does not serve as a substitute for any inspections or warranties the purchaser may wish to obtain. It also does not serve as a warranty of any kind. [1] Deliberate misrepresentation in the statement can result in liability. [2] Seller disclosure statements are not compulsory in New ...
In construction contracting, a latent defect is defined as a defect which exists at the time of acceptance but cannot be discovered by a reasonable inspection. [2]In the 1864 US case of Dermott v Jones, the latent defect lay in the soil on which a property had been built, giving rise to problems which subsequently made the house "uninhabitable and dangerous".
The Right-to-Know Law allows a judge to order a public agency that lost a case under the law to pay the winner's legal fees. The winner must show the public agency acted in bad faith by refusing ...
If you're in the market for purchasing a home, you've likely done plenty of research on everything from mortgage options to negotiation tips on trying to close a property. There's plenty of time...
There is no general duty of disclosure in English contract law, and one is normally not obliged to say anything. [19] Ordinary contracts do not require "good faith" as such, [20] and mere compliance with the law is sufficient. However in particular relationships silence may form the basis of an actionable misrepresentation: [21] [22]
If the seller has attempted to repair the defective product and failed, the action must be instituted within one year of the date of the last attempt to correct the defect. If the seller knew of the defect at the time of sale but sold the product anyway, the action is available for one year from the date the buyer discovered the defect.