Property update — November–December 2013: non-reliance clause
Despite finding that the sellers of a property had misrepresented the planning situation to the buyers, a court upholds a clause in the contract aimed at preventing the buyers from claiming damages.
If a buyer is being induced to enter into a property transaction because of something that the seller has said or done, be sure to confirm the particular issue in writing.
Such writing can take the form of a special clause in the contract, but beware any express exclusion of liability — this might apply even to breach of contract…
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Wragge Lawrence Graham & Co’s dedicated insolvency litigation team brings you its monthly update on the issues affecting the insolvency and fraud investigation industry.