Contracts
In Kansas, a seller who makes oral representations during a showing about the condition of a roof later claims 'as-is' protects them. The buyer may still have a claim if:
AThe oral representations were made in good faith
BThe seller's oral representations constituted fraudulent misrepresentation — 'as-is' does not protect against fraud✓ Correct
CThe buyer should have discovered the truth through inspection
DThe misrepresentation was minor
Explanation
The 'as-is' clause does not protect sellers against fraud. If a seller knowingly made false oral representations about the condition that induced the buyer to purchase, they may still face misrepresentation claims.
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Key Terms to Know
Earnest Money
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
Math Concepts
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