Contracts
Under New York law, an 'as is' clause in a real estate purchase contract:
ACompletely eliminates a seller's duty to disclose known material defects
BShifts the risk of unknown defects to the buyer but does not excuse active concealment or fraud by the seller✓ Correct
CIs unenforceable under New York Real Property Law
DOnly applies to commercial transactions
Explanation
An 'as is' clause in a New York contract shifts the risk of unknown or patent defects to the buyer and waives certain implied warranties, but it does not protect a seller who actively conceals a known defect or commits fraud. Courts have consistently held that 'as is' does not excuse fraudulent misrepresentation.
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