caveat emptor


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Related to caveat emptor: Caveat lector

Caveat Emptor

Latin for "let the buyer beware." It is used in many transactions to indicate that all sales are final and all due diligence is the sole responsibility of the buyer. The phrase is especially common in real estate.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

caveat emptor

‘let the buyer beware’: a situation where a supplier of a good or service is under no legal obligation to inform buyers of any defects or deficiencies in the products supplied. It is thus the responsibility of buyers to determine for themselves whether or not the product is satisfactory. Compare CAVEAT VENDOR.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

caveat emptor

a Latin phrase meaning ‘let the buyer beware’. Put simply, this means that the supplier has no legal obligation to inform buyers about any defects in his goods or services. The onus is on the buyer to determine for himself or herself that the good or service is satisfactory. Compare CAVEAT VENDOR.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

caveat emptor

Means “buyer beware.” The legal doctrine followed in some states that sellers of real property are not required to disclose any defects except those inherently dangerous and not easily discoverable by the purchaser.Contrast with seller disclosure states that affirmatively mandate written disclosure of a wide variety of named deficiencies,plus anything else that might be deemed a property defect.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Caveat emptor or "buyer beware" is the shortened form derived from the Latin maxim, "Caveat emptor, qui ignorare non debuit quod jus alienum emit" or translated to English, "Let a purchaser, who ought not to be ignorant of the amount and nature of the interest which he is about to buy, exercise proper caution." (12)
To directly address "Watching Out's" question as to whose fault is the misunderstanding of brokers' duties to their clients, to my mind the principle of caveat emptor went out the window for brokers and their broker-dealers when they starting using the moniker "advisor" rather than "adviser" to evade the '40 Act standard, and later "trusted advisor," to make it sound as if they were, indeed, fiduciaries for their clients.
"CAVEAT emptor", warns Bert Ward (Letters, October 15).
Caveat Emptor: The Secret Life of an American Art Forger tells of an art world scandal ten years ago involving an FBI investigation, a trail of fake paintings, and the involvement of art dealers, experts and major auction houses.
Get a solicitor to look through the legal pack and ensure your finance is in place and you are ready to move quickly - caveat emptor!
By spelling out the rights and remedies of the consumers in a market so far dominated by organized manufacturers and traders of goods and providers of various types of services, the Act makes the dictum, caveat emptor ('buyer beware') a thing of the past.
Caveat emptor, "let the buyer beware," is a caution that has taken on new relevance in the horticultural press.
"All of these stocks have been copied, with some of the most ingenious aging techniques imaginable, so caveat emptor certainly applies," he warns.
In fact, in this instance they didn't even get what they paid for), and second, "caveat emptor" -- let the buyer beware.
Caveat emptor? "By placing an order via this Web site on the first day of the fourth month of the year 2010 Anno Domini, you agree to grant us a nontransferable option to claim, for now and for evermore, your immortal soul." British video game maker GameStation, gamestation.co.uk, inserted this clause into its terms-and-conditions language for online users.
Caveat emptor: All holiday light strands we could find are strung on wires coated with lead-containing PVC.
Consumer rights were summed up in one Latin phrase, caveat emptor. And civil rights included enslaving hundreds of thousands, soon to be millions, of people.