Choose the correct meaning of 'Caveat Emptor'.
Answer & explanation
Correct answer: option 3
The correct answer is Option 3 - Let the buyer beware.
The correct meaning of 'Caveat Emptor' is 'Let the buyer beware'.
Caveat emptor means Let the buyer beware, to a consumer market i.e., caveat venditor which implies Let the seller 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”).