duty to disclose

duty to disclose

The legal responsibility of a seller,broker,or agent to tell a potential buyer about a defect in the premises.Some states have laws requiring disclosure of certain named and described conditions in addition to anything else that might constitute a defect.

References in classic literature ?
You have divined too truly, I fear; but still, since I know it, I feel it my duty to disclose it to you.
Not only has case law unequivocally recognized that physicians have a duty to disclose medical error, but from the patients' perspective, physicians head health care teams that are responsible for their care.
The court has certified a class of VA investors, ruling that Pacific Life owed an unprecedented duty to disclose internal pricing information or risk sweeping civil liability.
The transferring business now has a duty to disclose to the receiving business written, accessible information regarding the transferring employees' rights and obligations.
In delineating the superior knowledge doctrine, the court said:</p> <pre> a contracting agency has a duty to disclose to a contractor otherwise unavailable information of novel matter vital to the performance of the contract where (1) a contractor undertook to perform without vital knowledge of a fact that affects performance costs or duration; (2) the government was aware the contractor had no knowledge of and had no reason to obtain such information; (3) any contract specification supplied misled the contractor or did not put it on notice to inquire; and (4) the government failed to provide the relevant information.
Without an explicit statutory reference, an unaware investment adviser can easily stumble into trouble by failing to understand its duty to disclose material conflicts.
Under English insurance law, the duty of good faith has two basic elements: (a) a duty to refrain from making material misstatements and (b) a duty to disclose all known material facts.
The dilemma is that a duty to disclose the merger imposed by franchise law or common law fraud principles is countered by disclosure prohibitions of securities law, the confidentiality provisions of the merger agreement or other legitimate business purposes.
The collapse of a pounds 100 million VAT fraud trial was due to 'muddle, incompetence and lack of frankness' within Customs and Excise over its duty to disclose evidence to defence lawyers, a judge said yesterday.
Balancing all the interests as Wyoming law requires, we are compelled to conclude that if an insurance company, through independent investigation by it or a third party for purposes of determining policy eligibility, discovers that an applicant is infected with HIV, the company has a duty to disclose to the applicant information sufficient to cause a reasonable applicant to inquire further," Judge Carlos Lucero wrote for the court.
The act means local authorities will now have to respond to a request for information within a statutorily specified timescale and whether certain information requested is disclosed or not is now governed by particular provisions in the Act, which allow for only certain exemptions to the duty to disclose," he said.
Therefore, to the extent the trial court held that there is generally no duty to disclose policy limits, it was correct.