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Published on: 7/14/2007
Last Visited: 3/29/2009
By Katharine E. Allen
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In this case, the Court of Appeals determined that exculpatory clauses contained in a purchase contract are against public policy to the extent such clauses exempt any individual from liability for his own fraud and therefore do not preclude a buyer of real property from showing that he justifiably relied on a broker's intentional misrepresentation about the character of the property.
he court also found that any lack of due diligence by a buyer in investigating zoning and other laws restricting the use of property, even if negligent, does not preclude the buyer from establishing justifiable reliance if (a) there has been an intentional misrepresentation; and (b) the purchase contract only permits, but does not require, the buyer to undertake his or her own due diligence.
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For more information please contact Katharine Allen.
atharine Allen is an associate in the Real Estate, Environmental and Land Use and Natural Resources Practice Group in the firm's San Francisco Office.
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