Contracts
In North Dakota, the doctrine of 'caveat emptor' (buyer beware) in residential real estate has been largely modified by:
AFederal eminent domain laws
BMandatory seller disclosure laws that require sellers to reveal known material defects✓ Correct
CThe UCC Article 2 provisions
DRESPA closing cost requirements
Explanation
Traditional caveat emptor placed the burden of discovering defects on the buyer. North Dakota's mandatory seller disclosure laws (and licensee disclosure obligations) have largely modified this by requiring sellers and agents to disclose known material defects, shifting disclosure obligations toward the seller.
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