Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

Variel Warner developed an 85-unit apartment complex with Verdugo serving as general con-tractor in 2005. In 2007 Sobrato Interests III acquired the property from Variel

Variel Warner developed an 85-unit apartment complex with Verdugo serving as general con-tractor in 2005. In 2007 Sobrato Interests III acquired the property from Variel Warner, with the Purchase Agreement containing the following language in part: Sobrato "shall rely solely upon [its] own knowledge of the Property based on its investigation of the Property and its own inspection of the Property in determining the Property's physical condition, except with respect to ... [the] representations, warranties and covenants [made by Variel Warner in the Purchase Agreement]...." Sobrato released, inter alia, Variel Warner, Variel Builders, Troxler, Troxler Venture and Verdugo ... from all claims arising out of any condition of the Property including construction errors, omissions or defects. In 2008 Sobrato assigned all its interests in the property to SI XX, LLC. Subsequently, SI XX, LLC observed water leaking from the podium and pool deck in the parking garage, and it discovered major construction defects, which should have been discovered by Warner and the contractor but for their negligence in supervising the construction, inspection and development of the property. Accordingly, it sued Variel Warner. Decide. [SI 59 LLC v. Variel Warner Ventures, LLC, 29 Cal. App. 5th 146 (2018)]

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Economics A Problem Solving Approach

Authors: Luke M. Froeb, Brian T. McCann, Mikhael Shor, Michael R. War

3rd edition

978-1133951483

Students also viewed these Law questions