"Judge Benjamin N. Cardozo established that privity of duty is no longer required in regard to a lawsuit for product liability against the seller. This case is widely regarded as the origin of ""caveat venditor"" as it pertains to modern tort law in US. ""Caveat lector"" is Latin for ""let the reader beware"". One variant of this phrase is ""caveat auditor"", where the caveat is addressed to any receiver of a given (kind of) message (not necessarily a written one). Caveat emptor Caveat emptor (, ) is Latin for ""Let the buyer beware"" (from ""caveat"", ""may he beware"", a subjunctive"
"cars, the dearth of formal credit markets in developing countries, and the difficulties that the elderly encounter in buying health insurance. However, not all players in a given market will follow the same rules or have the same aptitude of assessing quality. So there will always be a distinct advantage for some vendors to offer low-quality goods to the less-informed segment of a market that, on the whole, appears to be of reasonable quality and have reasonable guarantees of certainty. This is part of the basis for the idiom buyer beware. This is likely the basis for the idiom that"
"Bona fide purchaser A bona fide"" purchaser (BFP)referred to more completely as a bona fide"" purchaser for value without notice is a term used predominantly in common law jurisdictions in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property. A BFP must purchase for value, meaning that he or she must pay for the property rather than simply be the beneficiary of a gift. Even when a party fraudulently conveys property to a BFP (for example, by selling to"
"the buyer knowing its true nature or value, especially when buying without inspecting the item beforehand. The phrase can also be applied to accepting an idea or plan without a full understanding of its basis. Similar expressions exist in other European languages, most of them referring to the purchase of a cat in a bag. This trick may be the origin of the expression ""letting the cat out of the bag"", meaning ""to reveal that which is secret"" (if the would-be buyer opened the bag, the trick would be revealed). In the April 1929 edition of the literary magazine ""London"
"Comprador A comprador or compradore () is a ""person who acts as an agent for foreign organizations engaged in investment, trade, or economic or political exploitation"". A comprador is a native manager of European business houses in East and South East Asia, and, by extension, social groups that play broadly similar roles in other parts of the world. The term ""comprador"", a Portuguese word that means ""buyer"", derives from the Latin ""comparare"", which means ""to procure"". The original usage of the word in East Asia meant a native servant in European households in Guangzhou in southern China or the neighboring"
"to the labeling of certain persons associated with the industry as 'dot.compradors'. Comprador A comprador or compradore () is a ""person who acts as an agent for foreign organizations engaged in investment, trade, or economic or political exploitation"". A comprador is a native manager of European business houses in East and South East Asia, and, by extension, social groups that play broadly similar roles in other parts of the world. The term ""comprador"", a Portuguese word that means ""buyer"", derives from the Latin ""comparare"", which means ""to procure"". The original usage of the word in East Asia meant a native"
"federal law. Many jurisdictions recognize several forms of stigmatized property, and have passed resolutions or statutes to deal with them. One issue that separates them is disclosure. Depending on the jurisdiction of the house, the seller may not be required to disclose the full facts. Some specific types must always be disclosed, others are up to the jurisdiction, and still others up to the realtor. The types of stigma include: At least in the United States, the principle of ""caveat emptor"" (""let the buyer beware"") was held for many years to govern sales. As the idea of an implied warranty"
"by phone, also have a statutory ""cooling off"" period of fourteen calendar days during which the purchase contract can be cancelled and treated as if not done. Although no longer applied in consumer law, the principle of ""caveat emptor"" is generally held to apply to transactions between businesses unless it can be shown that the seller had a clear information advantage over the buyer that could not have been removed by carrying out reasonable due diligence. ""Caveat venditor"" is Latin for ""let the seller beware."" In the landmark case of ""MacPherson v. Buick Motor Co."" (1916), New York Court Appeals"
"period"" where the consumer may change his mind. If a seller wishes to enter into such a market, it is the seller's risk to do so: caveat vendor. That risk cannot be transferred to the consumer. All credit contracts are covered by the Act. Responsibility for issuing credit is that of the creditor, that is, the merchant. The Act requires all creditors to inform them of any issuance. It is perfectly legal to ask the consumer to pay a premium for credit card purchases or any other form of credit, or to buy a car or motorcycle on lease, but"
"Chandelor v Lopus Chandelor v Lopus (1603) 79 ER 3 is a famous case in the common law of England. It stands for the distinction between warranties and mere affirmations and announced the rule of ""caveat emptor"" (buyer beware). A man paid £100 for what he thought was a bezoar stone. This is a stone that forms in animals' intestinal systems, and was believed to have magical healing properties. The seller said it was a bezoar stone, which turned out to be false. The buyer sued for the return of the £100 purchase price. How the claimant discovered that the"
"investors are considered highly risky. There is a public interest concern associated with the company designated as Caveat Emptor. Buyer beware. This may include a spam campaign, stock promotion or known investigation of fraudulent activity committed by the company or through inside information. During a spam campaign, any stock that is not in the Current Information category will also have its quotes blocked on otcmarkets.com. The OTC Bulletin Board (OTCBB) is only a listing of securities that are also traded ""over the counter"" similar to the OTC Markets. The OTCBB as an exchange was closed by owner FINRA. OTCBB companies"
"legal owner, failing which the court itself will convey title. In the United States, the patent law codifies the ""bona fide"" purchaser rule, . Unlike the common law, the statute cuts off both equitable ""and"" legal claims to the title. Bona fide purchaser A bona fide"" purchaser (BFP)referred to more completely as a bona fide"" purchaser for value without notice is a term used predominantly in common law jurisdictions in the law of real property and personal property to refer to an innocent party who purchases property without notice of any other party's claim to the title of that property."
"Buy to let Buy-to-let is a British phrase referring to the purchase of a property specifically to let out, that is to rent it out. A ""buy-to-let"" mortgage is a mortgage loan specifically designed for this purpose. Buy-to-let properties are usually residential but the term also encompasses student property investments and hotel room investments. Before the 1980s, the number of private individuals who became landlords was very small. Buying property to rent was seen as the preserve of professional landlords and persons who were sufficiently wealthy to pay cash or having sizable deposits enabling them to obtain commercial style mortgages."
"Pottery Barn rule The Pottery Barn rule is an American expression alluding to a policy of ""you break it, you bought it"" or ""you break it, you buy it"" or ""you break it, you remake it"", by which a retail store holds a customer responsible for damage done to merchandise on display. It generally ""encourages customers to be more careful when handling property that's not theirs"". It is an analogy often used in the political or military arena to suggest that if an actor inadvertently creates a problem, the actor is obliged to provide the resources necessary to correct it."
"to evolve a doctrine of implied warranty. This judgment predated a common law recognition of fraudulent misrepresentation by 180 years. Chandelor v Lopus Chandelor v Lopus (1603) 79 ER 3 is a famous case in the common law of England. It stands for the distinction between warranties and mere affirmations and announced the rule of ""caveat emptor"" (buyer beware). A man paid £100 for what he thought was a bezoar stone. This is a stone that forms in animals' intestinal systems, and was believed to have magical healing properties. The seller said it was a bezoar stone, which turned out"
"there looking at us. And it's going to suck up a good 40 to 50 percent of the Army for years. And it's going to take all the oxygen out of the political environment…"" Pottery Barn rule The Pottery Barn rule is an American expression alluding to a policy of ""you break it, you bought it"" or ""you break it, you buy it"" or ""you break it, you remake it"", by which a retail store holds a customer responsible for damage done to merchandise on display. It generally ""encourages customers to be more careful when handling property that's not theirs""."
"told to look out for a shipowner named Amr ibn Yazid, who had a slave girl who would call out in the language of Rûm: ""Even if you have wealth and the glory of Solomon the son of David, I can never have affection for you, so take care lest you waste your money."" And that if a buyer approached her, she would say, ""Cursed be the man who unveils my eyebrow!"" Her owner would then protest, ""But what recourse do I have I; I am compelled to sell you?"" The Imam said, ""You will then hear the slave answer,"
"As is As is is a legal term used to disclaim some implied warranties for an item being sold. Certain types of implied warranties must be specifically disclaimed, such as the implied warranty of title. ""As is"" denotes that the seller is selling, and the buyer is buying an item in whatever condition it presently exists, and that the buyer is accepting the item ""with all faults"", whether or not immediately apparent. This is the classic ""buyer beware"" situation, where the careful buyer should take the time to examine the item before accepting it, or obtain expert advice. On the"
"while the English expression refers to the appearance of the trick. This taught many scammed people the phrase ""Caveat Emptor"", or ""buyer beware"" as translated from Latin. In the past, it was common for small farmers to put a pig in a cloth sack to bring it to market for sale. A ""poke"" is a sack or bag. It has a French origin as ""poque"" and, like several other French words, its diminutive is formed by adding ""-ette"" or ""-et"" — hence ""pocket"" began life with the meaning ""small bag"". ""Poke"" is still in use in several English-speaking places, including"
"the tenants association used this fact to dissuade potential purchasers of vacant flats with an imitation estate agents’ board outside the show flat, warning ""‘Caveat emptor’ – buyer beware – the estate was the subject of a compulsory purchase order"". Central government refused to serve the compulsory purchase order in July 1973, but the council retaliated the same month by serving “dangerous structure” notices on the some of the blocks, requiring the owners to carry out urgent repairs. The council thus persuaded Gulindell to sell. On 6 October 1973 council leader Frank Dobson, announced that Camden Council had bought the"
"around the principle of caveat emptor, or ""buyer beware"", and transformed it into a plush shopping experience fit for the Gilded Age. Unconditional refunds, consistent pricing and international imports are among the Field innovations that became standards in quality retailing. Field's employees were also instructed not to push products on uninterested customers as was common practice in stores of the period. The quotes ""Give the lady what she wants"" and ""The customer is always right"" are attributed to Field. Though most famous today for his retail business, during his lifetime his wholesale business made far more money. During the 1880s,"
"be discovered by a reasonable inspection. Latent defect In the law of the sale of property (both real estate and personal property or chattels) a latent defect is a fault in the property that could not have been discovered by a reasonably thorough inspection before the sale. The general law of the sale of property is caveat emptor (let the buyer beware) and buyers are under a general duty to inspect their purchase before taking possession. However, it is understood at law that inspection is often not sufficient to detect certain deficiencies in the product that can only be discovered"
"is a term describing terms of purchase, when full payment for a good or service is due before the merchandise is shipped. This presents the least risk to a seller while having the most risk to the buyer. It is often combined with other terms such as Free On Board, which require the buyer to take possession of the merchandise as soon as it is loaded onto transportation, meaning the buyer assumes the financial risk if the shipment is lost or damaged en route. In actual daily business these sort of terms are extremely rare unless the goods or services"
"area of a company's social responsibilities squarely into the financial arena. This area of concern is widening to include such considerations as the impact on local communities, the health and welfare of employees and a more thorough examination of a company's supply chain. Until fairly recently, caveat emptor (""buyer beware"") was the governing principle of commerce and trading. In recent times however there has been an increased assumption that the consumer has a right to a degree of protection and the vast growth in damages litigation has meant that consumer protection is a central consideration for those seeking to limit"
"the person relying on the representation, so the law is constructed to shift the onus of ensuring that the representation is true onto the person making it. This is in contrast to the traditional common law principle of ""caveat emptor"" or ""let the buyer beware"". As a tort-style offence applying to cases of ""pure economic loss"" (as opposed to physical harm), a cause of action in misleading or deceptive conduct will only accrue from the time that any loss is suffered – i.e. conduct could be misleading and deceptive, and a person could rely on it and still have no"
"that a seller could not reasonably be expected to allow under normal conditions. For example, wood beams and interior brickwork often cannot be fully assessed without destructive testing, and it would be unreasonable for the seller to allow the buyer to destroy part of the property in order to discover such defects. As such, the law expects that buyers will protect themselves in the sales contract against defects they cannot possibly be expected to assess prior to purchase. As such, the term ""latent defect"" is often used as part of the guarantee clauses in a sales contract so that the"
"shy, and tried to get out of the business, but Mattie mad' un stick to it. 'Er flipt her apern in 'er gude man's face, and said, 'Let be yer rogue. I wull be sold. I wants a change'."" For the husband, the sale released him from his marital duties, including any financial responsibility for his wife. For the purchaser, who was often the wife's lover, the transaction freed him from the threat of a legal action for criminal conversation, a claim by the husband for restitution of damage to his property, in this case his wife. It is unclear"
"Buyer A buyer is any person who contracts to acquire an asset in return for some form of consideration. When someone gets characterized by their role as a buyer of certain assets, the term ""buyer"" gets new meaning. For example, a ""buyer"" is a person who purchases finished goods, typically for resale, for a firm, government, or organization; while a person who purchases material used to make goods is sometimes called a purchasing agent. In product management, the buyer is the entity that decides to obtain the product. A buyer's primary responsibility is obtaining the highest quality goods at the"
"types of damage. See, for instance, the Unfair Terms in Consumer Contracts Regulations 1999 and Sale of Goods Act 1979. As is As is is a legal term used to disclaim some implied warranties for an item being sold. Certain types of implied warranties must be specifically disclaimed, such as the implied warranty of title. ""As is"" denotes that the seller is selling, and the buyer is buying an item in whatever condition it presently exists, and that the buyer is accepting the item ""with all faults"", whether or not immediately apparent. This is the classic ""buyer beware"" situation, where"
"The phrase ""If you break it, you've bought it"" was reportedly first used in 1952 by a Miami Beach gift shop, who posted the message over their fragile merchandise. Individually operated furnishing stores selling fragile goods (art, pottery, and sculptures) often post a ""you break it, you buy it"" sign. According to legal experts, 'If the sign is big enough, and prominently displayed, it can be argued that you were given what lawyers call ""sufficient notice""' and 'In this case, just by entering the store you agree to the terms of the sign, even if you didn't read it'. In"
"lender interpretation of the new rules varied greatly; with some lenders opting to no longer offer buy-to-let products to portfolio landlords, while others adopted differing approaches to underwriting to this demographic. Portfolio landlords must now submit significantly more information about their existing properties, rental income and business plans than were required prior to this change. In the UK, particularly in London, there is a phenomenon known as 'buy-to-leave' where investors buy properties and leave them empty in order to benefit from rising house prices without the hassle of having to deal with tenants. Nationally 'buy-to-leave' accounts for a small percentage"
"place. Baiters will often use joke names or references to Western popular culture which, while obviously ludicrous to a native or fluent English speaker, will go unnoticed by the scammer. Similarly baiters may introduce characters, and even plot-lines, from movies or television shows for comedic effect. It has also been known for the scammers themselves to adopt fake names that in their native culture would seem equally absurd, mirroring this element. In May 2004, a Something Awful forum poster asked for advice on how to deal with a bogus escrow scam from a buyer on eBay. Since the eBay auction"
"salesman to the used car salesman, because of the sales pressure put on the prospective buyer to ""buy today"". ""The discounted price I quoted you is only good if you buy today"", is the industry standard's pitch to close the sale on the first visit to the resort. Many have left a timeshare tour complaining of being exhausted by the barrage of salespeople they had to deal with before they finally exited the tour. The term ""TO"", or ""turn over"" man, was coined in the land industry, and quickly evolved to the timeshare industry. Once the original tour guide or"