What's the harm in a little white lie? Many of us are trained to tell them as a way to minimize harm, distress or delay. In the context of property sales contracts, however, any lie - big or small - can result in enormous liability.
Last month we wrote about some of the potential liability construction businesses can avoid by hiring licensed contractors. We noted that it would be shortsighted for businesses to see hiring unlicensed contractors as a way to reduce project costs. But what happens when workers misrepresent their status as licensed contractors to persuade you to hire them? Unfortunately, some victims in Oregon are finding out the hard way.
In any given transaction, no one is ever happy with getting less than they bargain for. When it's milk that goes bad too fast, we tend to grin and bear it. In bigger scale transactions, such as the sale of land, anything less than what was bargained for is unfair and unacceptable. Thankfully, the often rigid rules applicable to sales contracts will sometimes bend as justice requires.
Whether dealing with a residential or commercial property sale, there is likely an endless contract full of terms we hardly understand. Beyond just deciphering what the words themselves mean, it can be equally difficult to interpret their impact on the transaction at hand. This problem is compounded by the fact that certain words, when included in property sales contracts, can trigger or deactivate unwritten terms otherwise provided by law.
In somewhat startling contrast to the uptick in 2013 commercial and residential construction spending we recently wrote about, the outlook for Oregon in 2014 might not be as positive. The annual business outlook report by the Associated General Contractors of America revealed a split in sentiment as to Oregon's commercial construction spending projections for the remainder of this year. This murky outlook, however, could mean 2014 is just the right time to put your project in motion.
When new neighbors move in next door there is always the potential for unsightly construction arising without warning. Anyone who's neighbor just installed a giant satellite dish knows what I'm talking about. We can usually live with a new fence or bird-bath going in next door, but when neighboring property is sold to construct a shopping complex, we tend to be a lot less understanding.