Search results
Results from the WOW.Com Content Network
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".
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 ...
If the buyer wants to take the case to court, they may have grounds to sue the seller for breach of contract. Legal action can be expensive and time-consuming, however, and it may not result in a ...
Construction law builds upon general legal principles and methodologies and incorporates the regulatory framework (including security of payment, planning, environmental and building regulations); contract methodologies and selection (including traditional and alternative forms of contracting); subcontract issues; causes of action, and liability, arising in contract, negligence and on other ...
Title costs: In some cases, the seller will pay title-related fees as well as, or instead of, the buyer. For instance, in most of Florida, sellers cover the cost of an owner’s title insurance ...
Pictured: a house in Burwood, NSW.The property dispute in Farah related to a residential construction project in that suburb.. The case concerned remedies claimed by Say-Dee Pty Ltd against Farah Constructions Pty Ltd. Say-Dee claimed a constructive trust over property held by Farah and its associates, as remedy for Farah having breached a fiduciary duty owed to Say-Dee.
When damages are not predetermined/assessed in advance, then the amount recoverable is said to be "at large" (to be agreed or determined by a court or tribunal in the event of breach). The purpose of a liquidated damages clause is to increase certainty and avoid the legal costs of determining actual damages later if the contract is breached.