The term "Caveat Emptor" means:

The correct answer is Option (2) → Let the buyer beware

• Caveat Emptor is a Latin term meaning “Let the buyer beware.”

• It implies that the buyer is responsible for checking the quality and suitability of goods before purchase.

• Modern consumer protection laws, however, have shifted focus towards “Caveat Venditor” (Let the seller beware) to safeguard consumer interests.