What is the meaning of the term " caveat emptor" in the context of Consumer protection Act?

Let the buyer beware Let the Seller beware Let the business beware Let the People Beware

Let the buyer beware

A consumer is said to be a king in a free market economy. The earlier approach of caveat emptor, which means “Let the buyer beware”, has now been changed to caveat venditor (“Let the seller beware”).