As Is Where Is Basis Agreement

In this case, it involved the sale of shares in a company wholly owned by a Chinese company with phosphate mining, processing and production (« Chinese activity »). The liquidator decreed that the sale process in its information memorandum should be done « as we can see where it is. » The « As Is » and « As Available » clauses are in terms and conditions and end-user licensing agreements, depending on the agreement the developer decides to design. Terms and conditions can also be called terms of use, terms of use or terms of use. Whether a court maintains an « As is where is » clause ultimately depends on the circumstances of the case. As can be seen in the above cases, every buyer should bear in mind that it is up to him to ensure that the duty of care is done, especially where the agreement contains an « As is, where is » clause. You should also be vigilant when checking the property for defects, as he or she will have no recourse against the seller for defects that may have been discovered by due diligence and proper verification of the property. In our previous newsletter « Raising Requisitions in the Context of Discrepancies Found in Provisional and Formal Agreements, » we discussed the decision of the Court of Join Union Investment Ltd/China Tree Investment Ltd [2016] 2 HKLRD 901 regarding, among other things, the involvement of different formulations used in a preliminary agreement and a subsequent formal agreement regarding unauthorized construction work in the property. In this newsletter, we will discuss another issue that was raised in this case on the legal effect of an « as is » clause. At the end of the day, you have to decide if you are comfortable enough to enter into a « how is where » transaction.

Inclusion of the reserve rule in an agreement – the purpose of including the « how is where is » clause as a contractual provision The provision always describes a situation in which the user accepts the software and service « as intended ». But it`s not as obvious and striking as it would be if the language « As Is » or « As Available » was actually present. This shows how « As Is » and « As Available » act as terms of clarification, even if they are not technically prescribed by law. The common law principles that have developed in accordance with this doctrine are that even if the seller is aware of such issues, the seller is not required to disclose to the purchaser patent defects (regardless of ownership or quality) and latent quality defects or other objects (unlike legal defects) that could adversely affect the value of the property sold. Moreover, this rule is relevant even if the « how is where is » clause is absent from the treaty. If a joint review is not possible, make sure there is a clause in the sales contract that imposes a contractual obligation on sellers to maintain the property in the same condition as at the time of the offer to purchase, with the exception of fair wear and tear.