How have courts dealt with a claim for fraudulently concealed water damage in the basement of a house?

[13] A similar result occurred in the case of Young v. Payne, [1994] N. J. No. 337 (S.C.). That case also involved the sale of a house. The plaintiff sought rescission of the contract on the basis that the defendant had fraudulently hidden water damage in the basement despite assurances to the contrary. Mr. Justice Woolridge dismissed the claim. He concluded that the defendant was not aware of the water damage at the time of the sale.