Caveat Emptor

The video tutorial explains the concept of 'caveat emptor,' which translates to 'buyer beware.' It emphasizes the buyer's responsibility to perform due diligence when purchasing items, particularly in real estate. The seller is not obliged to disclose all information but cannot misrepresent the product. The tutorial outlines the limits of caveat emptor, ensuring that sellers cannot lie about their products.

What does the term 'caveat emptor' mean?

• Agent beware

• Seller beware

• Buyer beware

• Market beware

In which industry is 'caveat emptor' most commonly applied?

• Real estate

• Automobile

• Technology

• Retail

What is the primary responsibility of the buyer under 'caveat emptor'?

• To conduct due diligence

• To negotiate the price

• To trust the seller's word

• To ensure product delivery

What is a limitation of 'caveat emptor' for sellers?

• They cannot misrepresent the product

• They cannot set the price

• They must disclose all information

• They must offer a warranty

What does 'caveat emptor' imply about the seller's obligation to share information?

• They must offer a discount

• They must provide a full refund

• They must share all details

• They can withhold some information