James J. Periconi, Esq. | April 20, 2008
In a sale or loan transaction the most important pre–closing covenant is that the borrower or seller will maintain the property in compliance with all environmental laws and will re–affirm accuracy of the representations and warranties as of the closing date.
James J. Periconi, Esq. | March 2, 2008
A. Representations: a statement of fact to induce another party to enter into a contract. B. Warranty: a promise that the statement is true; intended to relieve the promise (Buyer) from having to determine if the facts are true. * Practice Tip: Representations and warranties are not a substitute for including,