Question: Caveat Emptor means
Options:
Let the seller be aware
Let the buyer be aware
Let the retailer be aware
Let the broker be aware
Caveat Emptor is a Latin phrase that translates to "let the buyer beware." It's a principle in commercial transactions that places the burden of responsibility on the buyer to examine a product or service carefully before making a purchase.
• Here's why option (b) is correct:
-Buyer's Responsibility: The phrase emphasizes the buyer's need to be cautious and informed. They should be aware of the product's condition, potential risks, and any warranties or guarantees offered by the seller.
✅Explanation:
-The doctrine of Caveat Emptor is an integral part of the Sale of Goods Act.
-It translates to “let the buyer beware”. This means it lays the responsibility of their choice on the buyer themselves.
-It is specifically defined in Section 16 of the act “there is no implied warranty or condition as to the quality or the fitness for any particular purpose of goods supplied under such a contract of sale“