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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.
According to the ACL, property sellers and agents must disclose any defects in a property, which a buyer is planning to buy. Lying by omission would lead to breach of contract . This law does not mean that the property dealer guarantees the good title of the property but that he/she has not done anything, or is not aware of anything, which ...
The mere failure to make inquiry, even though there be suspicious circumstances, does not constitute bad faith, unless said failure is due to the deliberate desire to evade knowledge because of a belief or fear that inquiry would disclose a vice or defect in the transaction, – that is to say, where there is an intentional closing of the eyes ...
The seller must sell the property in contravention of the edict; in other words, must defy the requirements of the edict by failing to disclose the existence of the defect. The ordinary rules of non-disclosure apply here, but the facts of the case determine which of the two actions is appropriate.
Magnuson–Moss Warranty Act; Long title: An Act to provide disclosure standards for written consumer product warranties against defect or malfunction; to define Federal content standards for such warranties; to amend the Federal Trade Commission Act in order to improve its consumer protection activities; An Act to provide minimum disclosure standards for written consumer product warranties ...
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Among the omissions, the commission said Alcos failed to disclose that :—In 2017 the IRS recorded two liens against Alcos in the Bureau of Conveyances for unpaid taxes assessed against D.A ...
The phrase caveat emptor and its use as a disclaimer of warranties arises from the fact that buyers typically have less information than the seller about the good or service they are purchasing. This quality of the situation is known as 'information asymmetry'. Defects in the good or service may be hidden from the buyer, and only known to the ...