Law Commons^™

Caveat Emptor In Sales Of Realty--Recent Assaults Upon The Rule, Leo Bearman, Jr.

Vanderbilt Law Review

While caveat emptor is still ostensibly the law applicable to sales of realty in every common law jurisdiction, it no longer effectively protects the builder-vendor. In many instances he is now being held liable for damages or rescission for failure to meet what is in result, if not in fact, an implied warranty of good quality and fitness for purpose when he sells a newly constructed home. The expansions of previously settled doctrine by the courts to reach this result have occurred in the areas of implied warranty itself, and in the areas of express warranty, marketable title, fraud,and negligence. …