Caveat vendor financial definition of caveat vendor
caveat vendor ‘let the seller beware’: a situation where a supplier of a good or service is legally obliged to inform buyers of any defects in the product. Compare CAVEAT EMPTOR.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson
caveat vendor a Latin phrase meaning ‘let the seller beware’. In brief, this means that the supplier may be legally obliged to inform buyers of any defects in his goods or services. Compare CAVEAT EMPTOR.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive
A "caveat emptor" was the rule of the day for a large part of the last 200 years, and society has moved towards caveat vendor
(let the seller beware).
is equally necessary to dissuade fraud and allow equal recourse so that everyone is responsible for building the trust that is the fundamental basis of free trade.
The nature of the transaction will dictate the specificity and detail required to achieve the purpose intended, but the trend towards "caveat vendor
" should never be far from the developer's mind, and so the use of a detailed specific disclaimer/merger clause should be a high priority.