Explain What Is Meant by an Implied Warranty of Habitability

question 4

Essay

Explain what is meant by an implied warranty of habitability and how this doctrine has changed the common law approach with respect to residential leases.

---

Definitions:

Risks

The potential for loss, damage, or any other undesirable outcome resulting from internal or external vulnerabilities.

Joint Venture

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity.

Syndicate

A group of individuals or organizations combined to promote some common interest, often in business or finance.

Joint Stock Company

A form of business organization in which capital is divided into shares owned by shareholders, who enjoy limited liability and whose investment in the company can be bought and sold.