Definitions
- Patent Defects:
“A Patent Defect is a defect which the Purchaser was aware of at the time of purchase, or which was so blatantly obvious that the purchaser ought to have been aware of it.” A Patent Defect is also a defect that is clearly visible to the naked eye, for example, rusted gutters, cracked tiles, broken windows or dripping taps. - Latent Defects:
Latent Defects are defects that are not clearly visible to the ordinary person – even if they would be apparent to an expert. These defects may be covered up or concealed. Very often they only become evident some time after the date of sale or transfer, for example, leaking roof after a heavy rain. - Caveat Emptor:
Is the Latin for “Let the Buyer beware”
Applies to Patent Defects - Caveat Venditor:
Is the Latin for “Let the Seller beware”
Applies to Latent Defects