A group of homeowners recently lost a bid to escape from their purchase contracts in Opera Tower. The advertising material spoke about an amenities that were alleged to be misleading, byt the judge, a Clinton appointee, ruled against them stating that they had full and correct descriptions in the Prospectus.
I am not sure why they did not sue under Section 718.504 which provides for a cause of action for false and misleading advertising.
Moral of the story: There is Moral hazard in many economic decisions; just because Uncle Sam will bail out AIG, doesn't mean that us little guys don't have to pony up when we make bad decisions.
Showing posts with label Opera Tower. Show all posts
Showing posts with label Opera Tower. Show all posts
Wednesday, September 17, 2008
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