real estate caveat emptor assumption of risk disclosure latent defects concealed patent defects spis: Real Estate and the Law of Disclosure
- 08/10/08 08:40 AM
Real Estate and the Law of Disclosure By Brian Madigan LL.B.The general rule of law in Ontario concerning the purchase of land is that of "caveat emptor", or as translated "let the buyer beware." At common law this principle stood for the proposition that when the buyer hadrequired no warranty he took the risk of quality upon himself, and had no remedy if he chose to rely upon the mere representations of the seller, unless he could show that representation to have been fraudulent,This basic principle goes back to the 1600's and has not really changed since that time.The Honourable Mr. … (0 comments)
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Real Estate and the Law of Disclosure By Brian Madigan LL.B.The general rule of law in Ontario concerning the purchase of land is that of "caveat emptor", or as translated "let the buyer beware." At common law this principle stood for the proposition that when the buyer hadrequired no warranty he took the risk of quality upon himself, and had no remedy if he chose to rely upon the mere representations of the seller, unless he could show that representation to have been fraudulent,This basic principle goes back to the 1600's and has not really changed since that time.The Honourable Mr. … (0 comments)
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