In the UK, consumer law has moved away from the caveat emptor model, with laws passed that have enhanced consumer rights and allow greater leeway to return goods that do not meet legal standards of acceptance.

Why caveat Venditor approach replaced the caveat emptor approach?

The rule of caveat emptor which means “let the buyer beware” has been overridden by the rule of caveat venditor. Such change was required because of changing conditions of modern trade and commerce. The phrase caveat emptor is not used by the judges very often nowadays.

Does caveat emptor still exist?

The long-standing doctrine of American law known as caveat emptor, or “let the buyer beware,” is still alive and well in the State of Florida with respect to the purchase and sale of commercial real estate (though quite dead in the residential real estate context, see Johnson v. Davis).