A broker repeats incorrect square-footage information from an old flyer without checking county records, and the buyer relies on it. What liability theory best fits these facts?
Correct Answer
A) Negligent misrepresentation or nondisclosure
Negligent misrepresentation or nondisclosure is correct because the facts match a liability theory based on careless failure to provide accurate material information rather than deliberate deceit. That is the best description of the relationship, right, or legal concept tested here.
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- → Under TRID, all of the following pieces of information trigger the lender's obligation to provide a Loan Estimate EXCEPT.
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A seller knows the septic system fails after heavy rain and deliberately covers the evidence so the buyer will not discover it before closing. What kind of liability problem is this most likely?
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All of the following usually involve a defect or disclosure issue that may affect a buyer's decision EXCEPT