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Generally, caveat emptor is the contract law principle that controls the sale of real property after the date of closing, but may also apply to sales of other goods.
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Caveat emptor is a Latin phrase that is translated as “let the buyer beware.” The phrase describes the concept in contract law that places the burden of due diligence on the buyer of a good or service.
18 Ιαν 2016 · This Latin term, caveat emptor, means “let the buyer beware,” and is commonly used in reference to purchasing real property, or used items that do not come with a warranty. This is a warning to buyers that they are responsible for making sure the property or item is in suitable condition, or that it fits their needs, before buying.
8 Μαρ 2024 · Caveat emptor is intended to preclude post-purchase disputes arising from information asymmetry, a situation in which the seller has more information than the buyer about the quality of a good...
28 Νοε 2021 · Caveat emptor is a Latin phrase that translates to “let the buyer beware.” Caveat emptor is meant to put the burden of due diligence on the buyer in a transaction, and today, it is most commonly used in real estate.
Sellers are responsible when they indulge in misrepresentation or fraud by withholding vital information about the quality or condition of the product. For example, suppose the buyer is relying on the seller’s expertise or special advice.
