contestada

a seller's broker learns that the property across the street from one of his listings is likely to be rezoned as industrial and will become the southern boundary of an industrial park. realizing that such information would greatly reduce the property's selling price, he withholds the information from the seller. the plans for the industrial park are announced soon after the sale. angry, the buyer asks his broker to find out if the seller or the seller's broker knew about this. it didn't take long for the broker to learn that the seller's broker knew about these plans but had told no one. does the buyer have a cause of action against the seller?

Respuesta :

It is possible that the buyer may have a cause of action against the seller for breach of contract or fraud, depending on the circumstances of the sale and the terms of the contract.

If the seller knew about the plans to rezone the property and failed to disclose this information to the buyer, this could be considered a breach of the duty of good faith and fair dealing that is implied in every contract. The buyer may be able to seek damages for any losses incurred as a result of the seller's failure to disclose this information.

If the seller actively concealed the information about the rezoning plans and made false statements to the buyer about the property's value or future potential, this could be considered fraud. In this case, the buyer may be able to seek damages for any losses incurred as a result of the fraudulent conduct, as well as punitive damages in some cases.

Learn more about seller, here https://brainly.com/question/29555989

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