France's loi Carrez – why is it so important?

The loi Carrez – why is it so important (I have only come across this concept in France)? Which areas are counted? 

The 1996 Carrez law  obliges sellers of copropriété property (ie. a property, usually a flat, that is part of a larger complex with common areas) to give buyers a certificate detailing the surface area, ...

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