In selling your property if the seller states "As Is" does that
Absolved himself from the latent defect law?

What state or country are you in? Do you have a link to this "the latent defect law"?

It depends. Does the contract give the buyer the right to have a home inspection performed?

This is one very general definition of latent defects (the last sentence discusses 'as is' sales):
"latent defect n. a hidden flaw, weakness or imperfection in an article which a seller knows about, but the buyer cannot discover by reasonable inspection. It includes a hidden defect in the title to land, such as an incorrect property description. Generally, this entitles the purchaser to get his/her money back (rescind the deal) or get a replacement without a defect on the basis of "implied" warranty of quality that a buyer could expect ("merchantability"). Even an "as is" purchase could be rescinded if it could be shown the seller knew of the flaw."
But, as with most other matters, state laws vary.
Is a disclosure form required to be completed by the seller, in your state? Having an inspection performed by a certified home inspector would certainly be advisable for the buyer.
I don't believe that the seller can be completely absolved just because it is an "as is" sale. Depends on other factors.

Thanks a million for the great opinions. I guess to be fair to the buyer. The seller
should deduct the cost of the problem. Example bad drain field.

... I guess to be fair to the buyer. The seller
should deduct the cost of the problem. Example bad drain field.

If the seller wants to, he or she can do this, but by no means would have to.