Practicing Success
Practicing Success
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| A bought a horse from B. A wanted to enter the horse in a race, but he did not inform B of his intentions. Turns out the horse was not capable of running a race account of being lame. A filed a case against B. However, the court ruled against A and held that B was not responsible for the defects of the horse. The decision of the court is based on which of the following concept? |
Audi alterem partum Caveat Emptor Per Incuriam Obiter Dicta |
| Caveat Emptor |
| Caveat Emptor: It is a Latin phrase that is translated as “let the buyer beware.” It means that an individual buys at their own risk. Caveat emptor is a commercial and contractual law principle that transfers the liability of quality assurance from the seller to the buyer. It requires the consumer to conduct due diligence of the product before purchasing it and assume the risk of potential problems or defects. Its opposite is caveat venditor, which means “let the seller beware.” |
