THE RADIANT JUSTICE CHAMERS, OBAFEMI AWOLOWO UNIVERSITY
CAVEAT VENDITOR
The opposite of caveat emptor is caveat venditor. Caveat emptor is a Latin term that means "let the buyer beware." Similar to the phrase "sold as is," this term means that the buyer assumes the risk that a product may fail to meet expectations or have defects. In other words, the principle of caveat emptor serves as a warning that buyers have no recourse with the seller if the product does not meet their expectations.
The term is actually part of a longer statement: Caveat emptor, quia ignorare non debuit quod jus alienum emit ("Let a purchaser beware, for he ought not to be ignorant of the nature of the property which he is buying from another party.") The assumption is that buyers will inspect and otherwise ensure that they are confident with the integrity of the product (or land, to which it often refers) before completing a transaction.
Under the principle of caveat emptor, a consumer who purchases a defective product without proper inspection will have no recourse but a Modern rule called Caveat Venditor was introduced in a bid to strengthen Consumer Protection laws. The case that clearly illustrates the principle is that of Chandelor v Lopus (1603) 79 ER 3, which stands for the distinction between warranties and mere affirmations and announced the rule of caveat emptor (buyer beware).
Caveat Venditor in contrast to the more widely known saying caveat emptor means "let the seller beware," This principle covers goods with an implied warranty of merchantability i.e being in good condition as has been represented to the purchaser. This means that the person selling goods is accountable for providing information about the goods to the purchaser. This forces the seller to take responsibility for the product and discourages sellers from selling products of unreasonable quality. The principle of caveat venditor cautions that the seller is responsible for any problem that the purchaser might encounter with a service or product. This responsibility on the seller's side to deliver appropriate goods and to provide appropriate and accurate information about them led to the birth of 'Caveat Venditor'.
FROM THE DIRECTORATE OF RESEARCH
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