Contracts
An 'as-is' clause in a Virginia real estate contract means:
AThe seller is exempt from all disclosure requirements
BThe buyer accepts the property in its current condition but the seller must still disclose known material defects✓ Correct
CThe buyer waives all inspection rights
DThe seller guarantees no defects exist
Explanation
An 'as-is' clause means the buyer accepts the property in its present condition. However, it does not eliminate the seller's obligation to disclose known material adverse facts under Virginia law.
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