Latent Defect

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Definition: Latent Defect

Latent Defect
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What is the dictionary definition of Latent Defect?

Dictionary Definition

n. a hidden flaw, weakness or imperfection in an article which a seller knows about, but the buyer cannot discover by reasonable inspection. It includes a hidden defect in the title to land, such as an incorrect property description. Generally, this entitles the purchaser to get his/her money back (rescind the deal) or get a replacement without a defect on the basis of “implied” warranty of quality that a buyer could expect (“merchantability”). Even an “as is” purchase could be rescinded if it could be shown the seller knew of the flaw.

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To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/latent-defect/
Modern Language Association (MLA):
Latent Defect. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
April 16, 2024 https://payrollheaven.com/define/latent-defect/.
Chicago Manual of Style (CMS):
Latent Defect. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/latent-defect/ (accessed: April 16, 2024).
American Psychological Association (APA):
Latent Defect. PayrollHeaven.com. Retrieved April 16, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/latent-defect/

Definition Sources

Definitions for Latent Defect are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 0 Views.