Creation and construction of real estate contracts
Bar Exam · Flashcards · Recall
BAR EXAM · FLASHCARDS
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QUESTION
What is the general rule on a seller's duty to disclose defects in residential property?
QUESTION
What is the effect of a mortgage financing contingency on the buyer's obligation?
QUESTION
What is the effect of an 'as is' clause on a seller's liability for fraud or concealment?
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ANSWER
It does not shield the seller from liability for fraud or concealment. An 'as is' clause disclaims implied warranties but not fraudulent misrepresentation.