Question

The legal term "caveat emptor" means ..........

• A. Let the seller beware
• B. Let the buyer beware
• C. Let the landlord beware
• D. Let the tenant beware

Hint:

"Caveat emptor" highlights the buyer's responsibility in ensuring that the product or service meets their expectations before the transaction is completed.

Answer 1

The Correct Option is B

The term "caveat emptor" is a Latin phrase meaning "let the buyer beware." It is a principle in contract law that places the burden on the buyer to perform due diligence before making a purchase, meaning that once the buyer accepts a product or service, they cannot easily challenge the terms or conditions.

Answer 2

The legal term “caveat emptor” is a Latin phrase which means “Let the buyer beware”. It is a principle in commercial law that places the onus on the buyer to reasonably examine and judge the quality and suitability of a product before making a purchase.

Meaning and Application:
Under the doctrine of caveat emptor, the seller is not obliged to disclose every defect in the product, especially if the defect is obvious or can be discovered upon reasonable inspection by the buyer. This principle is particularly applied in cases of sale without warranties or guarantees.

Example:
If a buyer purchases a second-hand car without thoroughly checking its condition, and later finds it has a mechanical defect, the seller may not be liable under the principle of caveat emptor, provided there was no fraudulent concealment or misrepresentation.

Exceptions to Caveat Emptor:
Although this rule protects sellers to an extent, modern consumer protection laws have carved out several exceptions where the seller may still be held accountable. These include:
1. When the seller makes a false representation.
2. When the product is bought for a specific purpose and the buyer relies on the seller’s expertise.
3. In cases involving latent (hidden) defects.
4. When there are statutory warranties under consumer laws.

Conclusion:
“Caveat emptor” emphasizes the buyer’s responsibility to perform due diligence before entering into a transaction. However, modern laws balance this doctrine with consumer rights to prevent exploitation.

Therefore, the correct answer is: Let the buyer beware.