What type of fraud would the buyers claim

Assignment Help Business Law and Ethics
Reference no: EM13775670

The Nightmare House

After months of combing the real estate ads for a vacation property, you find an ad for a lovely Victorian cottage in a scenic small town about three hours away. After viewing the house, you decide it is the perfect weekend place; and amazingly, the price is in your budget. In fact, you're amazed that the house is so affordable and has been on the market for a while. You sign a real estate purchase contract to buy the house from the current owners, who have lived there for over 20 years. You make the sale contingent upon an inspection of the property by a licensed construction engineer. The engineer inspects the house over the course of two days and gives the house a clean bill of health. You proceed to closing, and buy the house.

After moving in, you learn for the first time from the neighbors that many actively claim this house is possessed by poltergeists, which the prior residents of the house had reportedly seen. In fact, the house is listed in a national guide to haunted houses, and had previously been included in a walking tour of the town as the haunted house. A newspaper article once described it as a charming Victorian (with ghost). You now jump at every creak and noise the house makes. You want the seller of the house to take it back for failing to inform you that the house is haunted. Do you have a good basis for rescinding the sale? What duties will you claim were owed to you by the seller? What responsibilities did you have as a buyer that may affect your ability to recover? What damages can you claim stem from the alleged failure to disclose by the seller?

What type of fraud would the buyers claim that the sellers engaged in? Why is this important?

Verified Expert

It is a ms word doc. It covers the facts and issues related while dealing a property. It include the duties and claims as a buyer and seller.It also include how to verify and get notified before buying a property.It includes the importance of claims and lawful aspects.References were added supporting the assessment.

Reference no: EM13775670

Questions Cloud

What is the formula for the limiting reagent : What is the maxium amount of potassium sulfate that can be formed and what is the formula for the limiting reagent?
Treated as earnings from self-employment : Which of the following income items is treated as earnings from self-employment?
What is the journal entries for the transactions : Cash contributions were received as follows: (a) $1,312 for any purpose desired by the school, (b) $495 for salary supplements for school faculty, (c) $300 to be used during the next fiscal year in any manner desired by the school, What is the journa..
statements regarding FICA taxes : All of the following statements regarding FICA taxes are true except:
What type of fraud would the buyers claim : What type of fraud would the buyers claim that the sellers engaged in? Why is this important
Write an essay on the small business accounting : Write two essay on the Small Business Accounting and General Ledger Softwear.
The financing of healthcare : Healthcare policy are the rules, regulation and guidelines that exist to operate, finance and shape healthcare delivery.
Self employed individual-pays state income tax payments : Brian had a tax overpayment of $500 on his 2013 state income tax return and applied this to his 2014 state income taxes. What is the amount of Brian's state income tax itemized deduction for his 2014 Federal income tax return?
What elements are necessary for a ucc contract : Let's start by discussing what you learned in the Battle of the Forms presentation: what elements are necessary for a UCC contract to be formed

Reviews

inf775670

10/5/2018 11:38:53 PM

I got my work and that too in a very précised manner. Thanks to the tutor who showed his efforts in doing my job correctly and the team to which I trusted on for my work. Thanks a ton for the efforts shown.

inf775670

10/5/2018 11:37:09 PM

You want the seller of the house to take it back for failing to inform you that the house is haunted. Do you have a good basis for rescinding the sale? What duties will you claim were owed to you by the seller? What responsibilities did you have as a buyer that may affect your ability to recover? What damages can you claim stem from the alleged failure to disclose by the seller? What type of fraud would the buyers claim that the sellers engaged in? Why is this important?

inf775670

10/5/2018 11:36:25 PM

After moving in, you learn for the first time from the neighbors that many actively claim this house is possessed by poltergeists, which the prior residents of the house had reportedly seen. In fact, the house is listed in a national guide to haunted houses, and had previously been included in a walking tour of the town as the haunted house. A newspaper article once described it as a charming Victorian (with ghost). You now jump at every creak and noise the house makes.

inf775670

10/5/2018 11:36:06 PM

the service provided is meant to assist the buyer by providing a guideline and the product is intended to use for research and study purpose. After months of combing the real estate ads for a vacation property, you find an ad for a lovely Victorian cottage in a scenic small town about three hours away. After viewing the house, you decide it is the perfect weekend place; and amazingly, the price is in your budget. In fact, you're amazed that the house is so affordable and has been on the market for a while. You sign a real estate purchase contract to buy the house from the current owners, who have lived there for over 20 years. You make the sale contingent upon an inspection of the property by a licensed construction engineer. The engineer inspects the house over the course of two days and gives the house a clean bill of health. You proceed to closing, and buy the house.

Write a Review

Business Law and Ethics Questions & Answers

  Many people believe that the american ideals and values of

many people believe that the american ideals and values of equality and democracy give the united states a kind of

  This case arises from a physical altercation that took

case study apotential drivers are required to attend an orientation session at which they must sign an independent

  Requirements regarding border and regulatory searches

Examine how each of these terms may apply to the following: Requirements regarding border and regulatory searches

  Criminal liability of organizations

How does Bill C-45 change the way a person would manage a business and review the legislation and the readings provided from the lecture notes

  Explain natural law formulation of categorical imperative

Explain and analyze in detail natural law formulation of categorical imperative and end-in-itself formulation of categorical imperative. should be in your own words.

  Give a definition of victimology

Give a definition of victimology. What is the history of victimology, and how has it developed? Explain how it is different from criminology, sociology, or psychology

  What is broken windows theory

What is Broken Windows Theory and how does it work to explain the rise and fall of criminal activity in different areas

  What is the csi effect and do you believe it is a

what is the csi effect and do you believe it is a legitimate concern?in your paper address the followingsummarize the

  Although police officers work to enforce laws there are

although police officers work to enforce laws there are many times where they can be put in situations or make

  Gibson & fraser business law

Obtain a copy of a written contract that is available in Australia from the net or another source. For example you could download one of the many online contracts

  Would it tend to result in adverse impact

Suppose that an employer has a close working relationship with your college and primarily recruits from there for professional positions. What would be the consequence of that recruiting strategy? Would it tend to result in adverse impact

  Find out what kind of rock is below the soil in your town

find out what kind of rock is below the soil in your town. how did you find out this information?give an example of an

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd