What does the doctrine of caveat emptor govern?

Q1: What is the doctrine of caveat emptor?

A1: The doctrine of caveat emptor is an integral part of the Sale of Goods Act that translates to “let the buyer beware”. It places the responsibility of choice on the buyer.

Q2: When does the doctrine of caveat emptor apply?

A2: The doctrine of caveat emptor applies to marine insurance contracts, commercial contracts, and group insurance contracts.

Q3: What is the burden placed on buyers under the doctrine of caveat emptor?

A3: The doctrine of caveat emptor places the burden on buyers to reasonably examine the property before making a purchase. Failure to meet this burden means the buyer is responsible.

Q4: Which law explains the principle of caveat emptor?

A4: Section 16 of the Sale of Goods Act 1930 explains the principle of caveat emptor. It states that there is no implied condition or warranty as to quality.

Q5: What does the phrase “caveat emptor” mean?

A5: The phrase “caveat emptor” is a Latin term that translates as “let the buyer beware.” It signifies that the buyer must ascertain and be cautious during a transaction.