What is puffery in real estate?
“Puffery” is an exaggerated or extravagant statement made for the purpose of attracting buyers to a particular product or service.
Which of these is an example of puffery?
Puffery is a statement or claim that is promotional in nature. It’s usually subjective and not to be taken seriously. Examples of these include claiming that one’s product is the “best in the world”, or something completely unbelievable like a product claiming to make you feel like you’re in space.
Is puffing in real estate unethical?
Is puffing illegal? Well, it isn’t. You see, puffery is seen as an opinion rather than a misrepresentation of facts. Hence it can’t be put in the same boat as fraud.
Is car puffing illegal?
Last week was Puffer Week when officers reminded citizens that puffing is illegal, except for vehicles with a remote start. Even in those cases, drivers must keep the keyless start fob away from the car so that the vehicle can’t be moved.
What is puffing in legal terms?
Puffing is a term in commercial law which means to convey an overstated belief about some good or service to a prospective buyer with the goal of making a sale of that good or service.
Does puffing have legal consequences?
In most cases, puffing is legal. Even when consumers don’t like it, there usually isn’t much they can do about it legally. Even in a sales contract, the practice of one party exaggerating their position, expectations, or predictions for the success or value of something being sold is permissible by law.
What does blockbusting mean in real estate?
Blockbusting refers to the practice of introducing African American homeowners into previously all white neighborhoods in order to spark rapid white flight and housing price decline. Real estate speculators have historically used this technique to profit from prejudice-driven market instability.
What is self dealing in real estate?
Self-dealing is an illegal act that happens when a fiduciary acts in their own best interest in a transaction, rather than in the best interest of their clients.