Contract Glossary

Caveat Emptor

Definition

Latin for 'let the buyer beware.' It means the buyer is responsible for checking the quality and condition of goods before purchasing. The seller isn't obligated to disclose defects unless required by law or contract.

In Practice

You're buying a used piece of equipment marked 'as is.' Under caveat emptor, it's on you to inspect it before handing over your money. If the motor burns out a week later, that's your problem, unless the seller actively lied about the condition. Modern consumer protection laws have weakened caveat emptor for retail purchases, but it's still alive and well in B2B and private sales.