The defence argues that the Ferrari had a
latent defect that caused it to accelerate uncontrollably but the prosecution say the accident was caused by driver error.
Mr Wilkins added: "His defence is that nothing he did caused the crash, rather it was due to some
latent defect with the vehicle.
Reportedly, this lawsuit had alleged that several models of Dometic's gas absorption refrigerators contained a
latent defect.
The company denied coverage, citing the
latent defect exclusion.
By finding a clear and unambiguous policy term to contain a "latent" ambiguity, it provided a $400,000 windfall and allowed her to recover more than allowed by the clear language of the policy by finding a
latent defect, even though the court found the policy language "on its face, that language could not be any clearer" and yet changed the meaning to provide more to the claimant than she was entitled to receive.
Wear and tear; rust, corrosion, fungus, decay, deterioration, hidden or
latent defect smog; settling, cracking, shrinking, or expansion; nesting, infestation or release of secretions by insects, birds, rodents or animals
Figure 1,
Latent Defect Cost Escalation, compiled from this NASA study illustrates the relative cost escalation of correcting an out-of-phase defect.
A
latent defect causing water damage may involve freezing pipes due to inadequate insulation, which isn't easily noted once walls are enclosed.
If the drains are undersized or clogged, then a seemingly typical rain event can uncover a
latent defect.
The event is an unusual one in that although taxpayers typically own or buy one or more houses during their lifetime for personal, investment, or business use, the purchase of a property that unbeknownst to the buyer has a
latent defect that severely devalues the property and renders it virtually uninhabitable is an unusual and nonrecurring act.
But if stopped for many years, high temperatures could cause a
latent defect.
The afternoon's agenda featured James Portelli, IRM UAE Coordinator and Executive VP/Head of Risk at the Oman Insurance Company speaking on project insurance from a buyer's perspective, which covered potential liabilities under a construction contract, construction insurance policy, cover and exclusions as well as professional indemnity and
latent defect cover.
