(1) Subject to subsection (2), a purchaser of land is not entitled to require -
(a) the production of an instrument dated or made before the period referred to in section 56, or stipulated in the contract for sale, for the commencement of the title, even though the instrument creates a power subsequently exercised by an instrument produced to the purchaser, or
(b) any information, or make any requisition, objection or inquiry with respect to any instrument referred to in paragraph (a) or the title prior to that period, notwithstanding that any instrument, or that prior title, is recited, agreed to be produced or noticed,
and the purchaser shall assume, unless the contrary appears, that -
(i) the recitals contained in the instruments produced, relating to any instrument forming part of that prior title are correct, and give all the material contents of the instrument so recited, and
(ii) every instrument so recited was duly executed by all necessary parties, and perfected, if and as req
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