| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,763,389,922 visitors served. |
|
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
latent defect |
Also found in: Encyclopedia, Wikipedia | 0.04 sec. |
|
latent defect n. a hidden flaw, weakness or imperfection in an article which a seller knows about, but the buyer cannot discover by reasonable inspection. It includes a hidden defect in the title to land, such as an incorrect property description. Generally, this entitles the purchaser to get his/her money back (rescind the deal) or get a replacement without a defect on the basis of "implied" warranty of quality that a buyer could expect ("merchantability"). Even an "as is" purchase could be rescinded if it could be shown the seller knew of the flaw. (See: warranty, implied warranty, product liability) How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
|
| ? Mentioned in | ? References in periodicals archive | |
|---|---|---|
The used boats have proven to be good values, particularly since any latent defects had made themselves known by the time I got them. Loss or damage caused by or resulting from fungus, rust, corrosion, decay, hidden or latent defect or any quality in a property that causes it to damage or destroy itself. A buyer can accordingly obtain considerably more comfort that the assets acquired do not have any remaining liabilities attached to them (other than possibly environmental or latent defect liabilities). |
| Legal Dictionary |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|