UNDERSTANDING OF SCHEME BY PURCHASER/BUYER Sample Clauses
The 'Understanding of Scheme by Purchaser/Buyer' clause establishes that the buyer acknowledges having a clear and comprehensive understanding of the scheme or project being purchased. Typically, this clause requires the buyer to confirm that they have reviewed all relevant documents, plans, and terms associated with the scheme, and that they are aware of their rights and obligations. For example, in a real estate context, the buyer might confirm they have seen the layout, amenities, and payment schedule. The core function of this clause is to prevent disputes by ensuring the buyer cannot later claim ignorance of the scheme's details, thereby protecting the seller from future misunderstandings or claims of misrepresentation.
UNDERSTANDING OF SCHEME BY PURCHASER/BUYER. The undertaking and covenant of the Purchaser/Buyer that the Purchaser/▇▇▇▇▇ has understood and accepted the under mentioned scheme of development as disclosed by the Promoter/Vendor: