TMD -- One (1) of the timeless principles of commerce is caveat emptor (latin for, “Let the Buyer Beware”). Under the principle of caveat emptor, the buyer takes the responsibility for the condition of the items or quality of the services that he or she purchases. Prior to the current consumer protection laws, buyers had no warranties for the goods or services that they purchased. Today, most states require goods to be of “merchantable or sellable quality”. As this condition is often next to impossible to define and enforce, buyers are advised to embrace the principle of caveat emptor prior to “signing on the dotted line”.
