Caveat emptor is a Latin term that means “let the buyer beware.” Similar to the phrase “sold as is,” this term means that the buyer assumes the risk that a product may fail to meet expectations or have defects.

What is an example of caveat emptor?

Example of Caveat Emptor (Buyer Beware)

Before the purchase, John asked the seller about the defects in the house. Adam told him that there was a leak in the bathroom upstairs, but it was fixed already. However, Adam also warned him that despite the repairs, a small leak could occur from time to time.

What is another word for caveat emptor?

In this page you can discover 3 synonyms, antonyms, idiomatic expressions, and related words for caveat emptor, like: , buy at your own risk and let-the-buyer-beware.

What does caveat emptor mean and what is the role of the principle in a contract of sale?

At common law the principle of caveat emptor or “let the buyer beware” places the buyer under an obligation to discover any physical defects in the property they are buying.

Why does caveat emptor exist?

A caveat emptor disclaimer is intended to resolve disputes that arise from information asymmetry, a situation in which the seller has more information than the buyer about the quality of a good or service.

When did caveat emptor originate?

Where did Caveat Emptor originate from? The origins of the Caveat Emptor principle in law lie in a 1603 case, known as Chandelor v Lopus, in England.