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Caveat Emptor in Transactions

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What is the meaning of caveat emptor? Do you think we should employ the principle of caveat emptor in sale of goods and consumer transactions? Have you been involved in any consumer transaction where the seller used this concept against you?

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This solution explains the meaning of caveat emptor and discusses each topic presented. Includes 1 reference.

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The term caveat emptor literally means "buyer beware" in Latin. The term means that the buyer should be solely responsible for verifying the claims made by the seller of a product before the buyer makes the final purchasing decision. The buyer is responsible for ensuring the accuracy of the claims ...

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