Implied term in contract for sale of lot or proposed lot in staged development scheme
46 Implied term in contract for sale of lot or proposed lot in staged development scheme
The developer under a staged development scheme warrants to any person who enters into a contract to purchase a lot or a proposed lot in the scheme that the development will be carried out in accordance with the scheme.
A warranty under subsection (1) – is enforceable in the same way as a contractual warranty; but cannot be limited or excluded by contract.
Without limiting the damages that may be recovered for breach of the statutory warranty, the owner of a lot may recover damages for the deferment or loss of a reasonably expected capital appreciation of the lot that would have resulted from completion of the development in accordance with the terms of the scheme.
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