76-2403. Adverse material fact, defined.

Adverse material fact shall mean a fact which (1) significantly affects the desirability or value of the property to a party and is not reasonably ascertainable or known to a party or (2) establishes a reasonable belief that another party will not be able to, or does not intend to, complete that party's obligations under a contract creating an interest in real property.

Source:Laws 1994, LB 883, § 3; Laws 2002, LB 863, § 2.