A seller failed to disclose to a buyer that his house had had evidence of termite infestation three years prior to the sale. The seller had had the property treated and had a certificate from the termite company that the property was clean and free of termites. Was there misrepresentation?
?The general rule is, "When in doubt, disclose." While the seller would no doubt have to have another inspection, the prior infestation, despite a clean bill of health, should have been disclosed.
You might also like to view...
Heavy television viewers are more likely to be fearful and to ______ the amount of violence in the world than are light viewers. This is an explanation of what theory?
Fill in the blank(s) with the appropriate word(s).
Both backgrounders and fact sheets should be limited to no more than two pages of text
Indicate whether the statement is true or false
Shield Company needs to purchase a property to build their headquarters. An investor is willing to exchange land worth $700,000 for shares of common stock. On the statement of cash flows, this transaction would be shown as ________
A) investing activities B) non-cash investing and financing activities C) operating activities D) financing activities
Rail carriers are typically favorable for which shipping conditions?
a. Short distance and light shipments b. Long distance and heavy/bulky shipments c. Long distance and light shipments d. Short distance and heavy/bulky shipments