William sold a leasehold estate to Rod for a consideration of $220,000. William knew that Rod

intended to use the leasehold for a restaurant, which strictly required use of the 20 car parking spaces

on the title. One month before settlement William received a letter from the municipality advising that

the municipality and Vic Roads intended to compulsory acquire some of William's land for an approvedroad-widening scheme, which would remove the entire car-park. With respect to William, does caveat emptor apply in the light of the information? Give reasons.