description of land - standard contract

Under a typical agreement :

Subject to the Agreement and any applicable laws, the Land is believed by the Seller to be and shall be taken by the Buyer as correctly described. No error, omission or misdescription of the Land shall invalidate the Agreement, but, if discovered and notice thereof is given by one party to the other before settlement (but not afterwards), the Seller or the Buyer (as the case may require) is entitled to compensation from the other party for the error, omission or misdescription. However, such a clause would not be relief from describing the wrong block of land.