298:, when the vendor has other instances of the same mass-produced merchandise in stock inventory), either the vendor or the buyer may insist on an "even exchange" for other, "conforming" instances of the product. When conforming goods are not available in stock but are available for the dealer to purchase (usually on the open or "spot" market), the buyer may require that the seller obtain the goods elsewhere, even at a higher price, with the seller having to incur a loss equivalent to the price difference. If the vendor still does not or cannot provide the goods and the dispute proceeds to litigation (as opposed to renegotiation or settlement), then as in all cases of vendor breaches of contract, the buyer may recover only the damages that s/he would have suffered had s/he taken all feasible steps to minimize ("mitigate") his/her damages suffered.
294:(such as describing the goods as sold "as is" and/or "with all faults") or other limitations such as the below-discussed limitations on remedies. The perfect-tender rule states that if a buyer who inspects new goods with reasonable promptness discovers them to be "nonconforming" (failing to meet the description provided or any other standards reasonably expectable by a buyer in his/her situation) and does not use the goods or take other actions constituting acceptance of them, the buyer may promptly return or refuse to accept ("reject") them and demand that the defect be remedied ("cured"). When goods fitting the same description and expectations are available for sale (
27:
492:
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380:
In the UK, consumers have the right to a full refund for faulty goods. However, traditionally, many retailers allow customers to return goods within a specified period (typically two weeks to two months) for a full refund or an exchange, even if there is no fault with the product. Exceptions may
710:
Restat 2d of Torts, § 395: "In 1916 the leading modern case of MacPherson v. Buick Motor Co., 217 N.Y. 382, 111 N.E. 1050, L.R.A. 1916F, 696, Ann. Cas. 1916C, 440, 13 N.C.C.A. 1029 (1916), discarded the general rule of non-liability, by holding that "inherently dangerous" articles included any
176:("Let a purchaser beware, for he ought not to be ignorant of the nature of the property which he is buying from another party.") I.e. the buyer should assure himself that the product is good and that the seller had the right to sell it, as opposed to receiving stolen property.
353:, will, however, do exchanges or refunds at any time, with or without proof of purchase, although they usually require a form of picture identification and place per-transaction and/or per-person quantity or dollar limitations on such returns.
465:
is a Latin phrase meaning "let the reader beware". It means that when reading something, the reader should take careful note of the contents, and undertake due diligence on whether the contents are accurate, relevant, reliable and so forth.
384:
Goods bought through "distance selling," for example online or by phone, also have a statutory "cooling off" period of fourteen calendar days during which the purchase contract can be cancelled and treated as if not done.
164:
and its use as a disclaimer of warranties arises from the fact that buyers typically have less information than the seller about the good or service they are purchasing. This quality of the situation is known as
392:
is generally held to apply to transactions between businesses unless it can be shown that the seller had a clear information advantage over the buyer that could not have been removed by carrying out reasonable
1044:
325:
material, many vendors will offer only a direct exchange for another copy of the same title, with the effect that the initial transfer or license of intellectual-property rights is preserved. Most
301:
As a default rule, the perfect-tender rule may be "contracted around" in ways that specify or limit a buyer's remedies (and that accordingly reduce the market price that rational buyers are
711:
article which would be dangerous to human safety if negligently made. After the passage of more than forty years, this decision is now all but universally accepted by the
American courts."
215:
that rendered the property unfit for ordinary purposes. The only exception was if the seller actively concealed latent defects or otherwise made material misrepresentations amounting to
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Consumer
Survival: An Encyclopedia of Consumer Rights, Safety, and Protection [2 Volumes]: An Encyclopedia of Consumer Rights, Safety, and Protection
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290:, the sale of new goods is governed by the "perfect-tender" rule unless the parties to the sale expressly agree in advance to terms equivalent to
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480:, or "let the listener beware", where caution is urged regarding all messages, in particular spoken messages, such as a radio advertisement.
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rule applies to all other real-estate sale situations (e.g. homeowner to buyer). Other jurisdictions have provisions similar to this.
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and allow greater leeway to return goods that do not meet legal standards of acceptance. Consumer purchases are regulated by the
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requires that goods must be "fit for the particular purpose" and of "merchantable quality", per
Section 15 of the
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A common way that information asymmetry between seller and buyer has been addressed is through a legally binding
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can be difficult to enforce and may not apply to all products. Hence, buyers are still advised to be cautious.
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From Caveat Emptor to Caveat
Venditor - a Brief History of English Sale of Goods Law
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746:"Caveat Auditor: The Role Of Critical Thinking In Modern Business Training"
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Arizona
Cartridge Remanufacturers Ass'n Inc. v. Lexmark International Inc.
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applies in the real-estate context to only the sale of new residential
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against the seller. This case is widely regarded as the origin of
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Atlantic Marine
Construction Co. v. United States District Court
1038:
In re Zappos.com, Inc., Customer Data
Security Breach Litigation
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Although no longer applied in consumer law, the principle of
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Caveat emptor, quia ignorare non debuit quod jus alienum emit
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and impose time limits on exchanges or refunds. Some larger
109:
684:
Reiboldt, Wendy; Mallers, Melanie Horn (26 November 2013).
449:
318:
97:
160:, but may also apply to sales of other goods. The phrase
647:"Caveat Venditor Law and Legal Definition - USLegal, Inc"
929:
Kansas City
Wholesale Grocery Co. v. Weber Packing Corp.
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262:
implied warranty of fitness for a particular purpose
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103:
100:
94:
1284:Douglas v. U.S. District Court ex rel Talk America
962:Baltimore & Ohio Railroad Co. v. United States
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628:"Changing your mind about something you've bought"
943:Lefkowitz v. Great Minneapolis Surplus Store, Inc
440:is no longer required in regard to a lawsuit for
1525:
1440:Helene Curtis Industries, Inc. v. United States
1052:Step-Saver Data Systems, Inc. v. Wyse Technology
810:never had any place in Roman law, civil law, or
361:In the UK, consumer law has moved away from the
1232:G. L. Christian and Associates v. United States
683:
889:
875:
381:apply for goods sold as damaged or to clear.
137:for "Let the buyer beware". It has become a
1135:Salsbury v. Northwestern Bell Telephone Co.
365:model, with laws passed that have enhanced
309:will not provide a refund but will provide
1388:Lenawee County Board of Health v. Messerly
882:
868:
230:ensuring the quality of goods. In the UK,
16:Latin phrase and principle in contract law
260:The modern trend in the U.S. is that the
71:Learn how and when to remove this message
1413:SCO Group, Inc. v. DaimlerChrysler Corp.
922:Gottlieb v. Tropicana Hotel & Casino
34:This article includes a list of general
1343:Williams v. Walker-Thomas Furniture Co.
1017:Ticketmaster Corp. v. Tickets.com, Inc.
1526:
1225:Henningsen v. Bloomfield Motors, Inc.
1059:Bowers v. Baystate Technologies, Inc.
863:
305:for the goods). In many cases, the
20:
605:. Trading Standards. Archived from
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207:could not recover damages from the
13:
1024:Nguyen v. Barnes & Noble, Inc.
798:Hamilton, W.H. "The Ancient Maxim
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592:572 N.Y.S.2d 672 (N.Y. App. 1991).
576:FindLaw.com, accessed 23 Dec 2019.
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40:it lacks sufficient corresponding
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1555:
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825:MacPherson v. Buick Motor Company
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268:by a builder-seller and that the
1159:Jacob & Youngs, Inc. v. Kent
1121:King v. Trustees of Boston Univ.
936:Ever-Tite Roofing Corp. v. Green
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574:What Does 'Caveat Emptor' Mean?
556:. Merriam-Webster, Incorporated
1544:Legal doctrines and principles
1239:Kellogg Bridge Co. v. Hamilton
1100:Wood v. Lucy, Lady Duff-Gordon
1066:Bragg v. Linden Research, Inc.
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1:
1187:MacPherson v. Buick Motor Co.
722:"Definition of CAVEAT LECTOR"
603:"Trader's Guide to Civil Law"
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425:MacPherson v. Buick Motor Co.
419:for "let the seller beware."
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245:
1539:Legal rules with Latin names
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1277:Harris v. Blockbuster, Inc.
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226:, the buyer had no express
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1488:Drennan v. Star Paving Co.
1308:(unwritten & informal)
1218:Seixas and Seixas v. Woods
981:Ellefson v. Megadeth, Inc.
891:United States contract law
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448:as it pertains to modern
185:guarantee of satisfaction
121:, "may he/she beware", a
1433:United States v. Spearin
954:Implied-in-fact contract
915:Leonard v. Pepsico, Inc.
690:. ABC-CLIO. p. 94.
422:In the landmark case of
371:Consumer Rights Act 2015
1534:Latin words and phrases
1270:Morrison v. Amway Corp.
1146:Substantial performance
1073:Feldman v. Google, Inc.
726:www.merriam-webster.com
651:definitions.uslegal.com
288:Uniform Commercial Code
286:Under Article 2 of the
141:in English. Generally,
55:more precise citations.
847:Encyclopedia Americana
827:(Opinion of the Court)
430:New York Court Appeals
375:Sale of Goods Act 1979
172:It is a short form of
1350:Buchwald v. Paramount
1181:De Cicco v. Schweizer
841:"Caveat Emptor"
632:citizensadvice.org.uk
533:List of Latin phrases
167:information asymmetry
906:Offer and acceptance
588:Stambovsky v. Ackley
1479:Promissory estoppel
1364:Cancelling Contract
772:"Caveat Definition"
476:Another variant is
434:Benjamin N. Cardozo
211:for defects on the
1406:Stoddard v. Martin
1381:Sherwood v. Walker
1291:McMichael v. Price
1107:Kirksey v. Kirksey
1010:Specht v. Netscape
898:Contract formation
806:1133, argues that
750:eLearning Industry
669:has generic name (
313:. In the cases of
156:after the date of
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