Latent Defect Rescission: Commencement of Limitation Period

A buyer, having discovered a latent defect in purchased property that rendered it unfit for its intended purpose, sought rescission of the sale, but the seller argued the action was time-barred by the applicable statutory period for defects, which had begun running from the date of the sale. The court overturned the lower court's decision, reasoning that the limitation period for an action based on a hidden defect begins only from the date the defect is discovered or reasonably should have been discovered by the buyer, not from the date of the sale itself.