“Imputed knowledge” means the knowledge of one person attributed to another person. Knowledge is attributed from one person to another on the basis of their legal relationship. For example, the knowledge of a representative may be attributed to the principal, the knowledge of an employee or officer may be attributed to the employer or company, and the knowledge of a partner may be attributed to other partners and the corporation. The use of the phrase “to the best of his knowledge” in a guarantee has generally not imposed an obligation to investigate the person making the statement. In Hoffer v. Callister, 47 P.3d 1261, 1265 (Idaho 2002), the seller warranted “to the best of his knowledge” that the property, which was a motorhome park, did not violate any local laws or regulations. In fact, there have been area violations. The Idaho Supreme Court ruled in favor of the District Court, which stated, “[The contract] states that warranties are made to the best of the seller`s knowledge. It does not indicate that the seller has searched public records or that there has been no actual breach or that the buyer can rely on this guarantee to stop the search itself. “Hrsg. The knowledge must be defined in a sales contract so that both parties can understand the rules of the company and their representations and warranties.
In addition to information, knowledge qualifications provide a scope of each party`s knowledge, thus allocating risk between buyer and seller regarding matters covered by the contract. Basically, knowledge definitions attempt to determine who is important in order to determine whether a knowledge qualification has been violated and who is responsible for that violation. Muskin`s contention that he was required to conduct a title search in each or most of the land rents of the trusts is unfounded in light of the instruction on the registration form directing the plaintiff to use this item only “to the best of his knowledge. To fill. The phrase “to the best of my knowledge” implies an acceptable margin of error in the applicant`s statement. “Knowledge” means, with respect to a Party, actual or actual knowledge of that Party, after proper investigation. When used with respect to the seller, Knowledge only includes knowledge of LaPlante and Wirth. (a) Subject to subparagraph (f), a person has “knowledge” of a fact if the person: (1) actually has knowledge of it; (2) has received a notice or notification; or (3) has reason to believe that it exists having regard to all the facts and circumstances known to the person at the time. Instead of having to know, you could use the term constructive knowledge in the definition: Constructive knowledge is knowledge that is legally imputed to a person, whether they do it or not, since knowledge can be obtained by exercising due diligence.
This type of knowledge contains wording that refers to a duty of the parties, since this knowledge is legally attributed to a specific person, for example, the court found that the partners had constructive knowledge of the social agreement, although none of them read it. However, as you might expect, it`s not that simple. For one, the purpose of these qualifiers is usually a company, not a person. And how does a company have knowledge? To solve this problem, an agreement usually defines the people whose knowledge is attributed to the target company, often by specific designation. According to the usual practice of presenting and receiving expert opinions from third parties, it is assumed that a lawyer only knows the facts of which he is aware, as opposed to information that he has forgotten or that is not associated with the expertise. Glazer, loc. cit. §188.8.131.52, p. 135.Nevertheless, it is useful to define the term “our knowledge” in declarations. In a definition, the appraiser may provide that “our” knowledge is limited to the knowledge of only the lawyers who worked on the valuation or underlying transaction, and perhaps lawyers who have a special relationship with the borrower or guarantor.
In this way, the evaluator makes it clear that he does not need to check with all of the firm`s lawyers before giving an expert opinion to determine if any of them are aware of the problems, as is necessary for law firms` responses to accountants who prepare audit letters for clients. The definition of “knowledge” may also make it clear that it is limited to the actual knowledge or conscience of specialist lawyers and does not include constructive knowledge or even knowledge of the information contained in the expert`s records. An example of a definition of “knowledge” that can be included in an appraisal can be found in the Real Estate Finance Opinion Report of 2012, 47 Real Prop., Tr. & Est. J. 213 ch. 2, § 4.7(c), at 257-58 (2012), as follows: The seller also wants to limit the degree to which “constructive” knowledge is attributed. Savvy sellers require an average standard for “reasonable requests” and may specify that the investigation is only about an individual`s normal duties.
In other words, these people are not expected to turn every stone over to look for potential problems. However, if they are normally expected to learn about certain topics as part of their regular duties (e.g.