The bill will give a buyer the right to cancel the sale if vital information is withheld from him at the time of the sale.
The Knesset has approved the preliminary reading of a bill, which if passed into law, will make fair disclosure in the sale of second-hand vehicles compulsory.
Under the personal member's bill of MK Gilad Erdan (Likud), a person selling a vehicle will be required to provide the buyer with all the nformation pertaining to it from the date it was first registered up to the date of sale, when transferring ownership. The bill will give a buyer the right to cancel the sale in the event that vital information about the vehicle was found to have been withheld from him at the time of the sale.
"The bill will ensure that buyers are fully informed about the state of the vehicle they bought, and will, in effect, prevent a large group of consumers from being exposed to fraud and deceit," said Erdan.
Published by Globes [online], Israel business news - www.globes.co.il - on October 25, 2007
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