Contracts
Massachusetts P&S agreements commonly include a 'Buyer's and Seller's Statement' clause requiring each party to certify at closing that no representations have been made that are not contained in the P&S. The purpose is to:
ACreate additional liability for both parties
BConfirm that the written agreement is complete and that no side deals or oral promises exist outside the contract✓ Correct
CWaive the buyer's right to sue for misrepresentation
DRelease the closing attorney from liability
Explanation
This 'no representations' or 'entire agreement' type clause confirms that no side deals or undisclosed promises exist outside the written P&S, reducing the risk of post-closing disputes about alleged oral representations.
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