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term:
Caveat Emptor
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caveat emptor n
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[New Latin, may the buyer beware]
: a principle in commercial transactions: without a warranty the buyer takes the risk as to the condition of the property or goods compare products liability at liability, warranty
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.