What is a actio quanti minoris?

An action in which the purchaser of a good claims a reduction of the price proportionate to the reduction in value caused by a defect.

What does actio Redhibitoria meaning?

Article Name: Actio redhibitoria. Description: In civil law. An action to compel a vendor to take back the thing sold, and return the price paid. …

What is claiming a price reduction under actio quanti minoris?

Under the Actio Quanti Minoris, the purchaser is limited to claim a price reduction which would be equal to the difference between the value of the goods and the purchase price. (Usually it is the amount required to repair the defect).

What is duty of good faith?

The duty of good faith stands for the principle that directors and officers of a corporation in making all decisions in their capacities as corporate fiduciaries, must act with a conscious regard for their responsibilities as fiduciaries.

What is meant by caveat Subscriptor?

Caveat subscriptor is a Latin term used in trading to mean “let the seller beware” and in legal language to refer to the obligations of a contract signer. When signing a contract, the individual automatically agrees to the conditions stated within it, regardless of whether they have read and/or understood them.

What is the prescriptive period for filing action Redhibitoria or action quanti minoris?

6 months
This action will have a prescription period of 6 months since the thing has been delivered.

Is a leaking roof a latent defect?

In contrast, a latent defect is one that only an expert would be able to identify. Such a defect would not be apparent to a reasonable person upon inspection of a property. Latent defects to a property may include rising damp, faulty pool pumps or geysers, rusted internal pipes and leaking roofs.

What constitutes a latent defect?

A hidden or concealed defect; one which could not be discovered by reasonable and customary observation or inspection.

What is fiduciary duty of good faith?

What is meant by caveat Venditor?

Today, most sales in the U.S. fall under the principle of caveat venditor, which means “let the seller beware,” by which goods are covered by an implied warranty of merchantability.

What is a Stipulatio alteri?

STIPULATIO ALTERI the stipulatio alteri is a contract between two persons designed to enable a third party to come in as a party to contract with one of the two others.