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Real Estate and the Law of Disclosure
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. Justice Dickson J. of the Supreme Court of Canada summarized the law in Fraser-Reid v. Droumtsekas [1980] 1 S.C.R. 720:".....Notwithstanding new methods of house merchandising and, in general, increased concern for consumer protection, caveat emptor remains a force to be reckoned with by the credulous or indolent purchaser of housing property. Lacking express warranties, he may be in difficulty because there is no implied warranty of fitness for human habitation upon the purchase of a house already completed at the time of sale. The rationale stems from the laissez-faire attitudes of the eighteenth and nineteenth centuries and the notion that ... more

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