Such warranties remain in force even when the original builder is no longer in business.Ī construction defect lawsuit can become a class action when such defects are discovered in a large number of buildings constructed by a single company. In some cases, the purchaser of a building has the option of purchasing a warranty from a third-party insurer. However, even if the builder does not offer a written warranty, most state laws recognize what is known as an “implied warranty of habitability.” This means that regardless of whether or not there is a warranty on paper, the home or building owner is entitled to recover damages should construction defects make the structure uninhabitable. Even if a builder offers a warranty, it is typically for a limited amount of time. Normally, a construction defect lawsuit is filed by an individual.
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Establishing the exact nature of the defects and determining liability may require a professional building inspector. Structural problems can involve framing, interior materials, wiring, plumbing, and even the foundation and the ground itself. Unfortunately, they are also common for just this reason. They also can cause injuries, posing hazards to an occupant’s health and safety.Ĭlass actions for construction defects can be complicated because construction projects involve many different contractors, suppliers, and manufacturers.
These defects typically result in economic losses as they affect the value of the property. Construction defects are defined as design flaws, poor workmanship, and/or the use of defective materials and other factors that cannot be attributed to normal wear and tear. Shoddy building practices have long been a cause of action in class action lawsuits. This is why consumers and small business owners often turn to class action lawsuits for remedies. Unfortunately, antitrust laws are frequently violated – and these days, enforcement, at least at the federal level, is lackluster at best. Such practices can cause unreasonable increases in operation costs when corporate violators artificially control the price and supply of commodities and services required to conduct business. Small businesses that rely on supplies and services from large corporations are particularly vulnerable to anticompetitive practices. Helps to prevent the formation of monopolies and the resulting abuse of power.Įssentially, antitrust regulations protect consumers as well as small businesses from the greed of large corporations.Helps to place restrictions on corporate mergers and acquisitions that could inhibit competition and.Helps to prevent the formation of cartels and collusion that result in a restraint of trade.Together, these laws accomplish three things: Three major laws make up the core of federal antitrust legislation: the Sherman Antitrust Act (1890), the Clayton Antitrust Act (1914), and the Federal Trade Commission Act (1914). They also help prevent the creation of monopolies in which a single company or industry exercises complete control and the power to charge whatever prices it likes.Īntitrust laws are intended to promote fair competition.
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In the U.S., antitrust law consists of both federal and state statutes that are designed ensure that participants in the free market system play by certain rules.
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