Buy high, sell low, and argue about the loss
An asset is bought upon negligent advice, but the buyer is unaware that the price is too high and the asset's value is in freefall. Following a recent High Court decision, the buyer can recover damages not only for the loss of purchase price when compared to "real or fair value" of the property at the time of purchase, but also the consequent loss in a falling market.
Nothing to hide: disclosures against warranties
Andrew Walker and Sam Cottell look at why warranty disclosure is a balancing act, and courts are not backward in finding faults in the way information has been disclosed.
Clayton Utz communications are intended to provide commentary and general information. They should not be relied upon as legal advice. Formal legal advice should be sought in particular transactions or on matters of interest arising from this communication. Persons listed may not be admitted in all States and Territories.