Does caveat emptor apply in real estate transactions?
Ontario, Canada
The following excerpt is from 400 Wentworth Inc. v. Waterjet Machining Inc., 2007 CanLII 6453 (ON SC):
The rigour of caveat emptor may be circumvented in the case of fraud or misrepresentation. If misrepresentation is found and the transaction has already closed, the purchaser may have the ability to claim for damages in tort: Doan v. Wilkins (1996), 5 R.P.R. (3d) 282 (B.C.S.C.).
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