Practice Quiz

CLEP Business Law

Category - Miscellaneous

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Caveat emptor means:
  1. "Seller beware."
  2. "No return without a receipt."
  3. "Final sale."
  4. "The thing speaks for itself."
  5. "Buyer beware."
Explanation
Answer: E. Caveat emptor means "buyer beware." Under traditional common law, a buyer had no warranty ensuring the quality of goods. Courts will now apply the doctrine of an implied warranty of merchantability. Using this doctrine, a buyer can receive damages for a violation of the implied warranty.
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