Contracts
A Mississippi purchase agreement states the property is being sold 'as is.' The 'as is' clause:
AEliminates the seller's duty to disclose known defects
BTransfers the risk of unknown physical defects to the buyer but does not relieve the seller of liability for fraudulent concealment of known defects✓ Correct
CPrevents buyers from conducting inspections
DAutomatically waives all contingencies
Explanation
An 'as is' clause shifts risk for unknown or patent (visible) defects to the buyer but does not protect the seller from liability for known defects they fraudulently concealed. Mississippi courts have held that 'as is' clauses do not shield sellers who actively misrepresent or intentionally hide known defects.
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