Contracts
What is an 'as-is' clause in an Oregon purchase contract?
AThe buyer agrees to purchase without any inspection rights
BThe buyer accepts the property in its current condition, but does not waive the seller's disclosure duties✓ Correct
CThe seller guarantees there are no defects
DThe contract becomes void if any defects are found
Explanation
An 'as-is' clause means the buyer agrees to accept the property in its current condition without requiring the seller to make repairs. However, it does NOT eliminate the seller's duty to disclose known material defects under Oregon law. The buyer can still perform inspections and may be able to cancel based on inspection findings if the contract allows.
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