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The principle of caveat emptor?
the phrase caveat emptor means "let the buyer beware". Its legal meaning is that the buyer needs to exercise diligence when purchasing something. If something is too good to be true, it usually isn't.
Why is the doctrine of caveat emptor not applicable to the contract of insurance?
The concept of "Caveat Emptor" finds a mention in judicial systems of common law. For example it appears in the Sale of Goods Act in India. Caveat Emptor is a concept which is becoming slightly lesser relevant because of the huge variety of means through which goods and services are being sold in today's market. Caveat Emptor means the Buyer Beware. A contract of insurance is however a different contract and is guided by different principles such "utmost good faith",etc. The reason being that in a contract for insurance, for example in life insurance, the person getting himself assured must show utmost good faith. This means he should disclose all the material factors which are likely to influence the insuring party. The concept of Caveat Emptor not being applicable because the insurer can in no way possibly forsee all the possible conditions likely to effect his interest. The insured is in the best position to know this.
Which of these most nearly define caveat emptor?
Caveat emptor is a Latin phrase that means "let the buyer beware." It indicates that the buyer is responsible for examining goods or property before purchase, as the seller may not disclose all potential issues or defects.
How do you get a Chinese company send your money back if they fail to supply goods you paid for?
You don't. Caveat Emptor, let the buyer beware. It is always best to do transfers of goods or property face to face.
What is the Doctrine of Caveat Venditor and what is its purpose?
Caveat venditor is in contrast to the legal doctrine of caveat emptor, or, let the buyer beware. The doctrine of caveat vendor establishes a set of good business practices that protect the seller. The seller must verify the authority of the buyer to contract on behalf of their company. Ask for certificates of authority. Typically, a seller should make appropriate inquiries as to the authority of the buyer and the quality of the payment: In other words, verify payment for goods and/or services prior to their delivery. The seller with any doubts can ask for a cashier's check. The seller must be alert to checks received for payment that show a notation of "payment in full" when the payment is not in full. Keep copies of all checks to monitor the authorized signatures. For the small business the practice of using "PayPal" services for internet sales is a good example of the doctrine of caveat venditor in action. By using that service the seller is guaranteed that payment is made before the goods are delivered. For a good discussion see the link provided below.
Does the obligation to warrant against eviction or hidden defects apply to second hand goods?
Unless the seller ABSOLUTELY and EXPLICITLY warrants the second hand items as serviceable it is CAVEAT EMPTOR (Let The Buyer Beware).
What are the exceptions to the Doctrine of Caveat Emptor?
Exceptions to the Doctrine of Caveat Emptor include: Misrepresentation by the seller Nondisclosure of material facts by the seller Implied warranties, such as the implied warranty of merchantability or fitness for a particular purpose The sale of goods covered by consumer protection laws
Is there any law that says goods can be returned for a refund within a specific amount of time from a retail establishment.?
What County or State are you in? Various jurisdictions can have varying consumer protection laws. Mostly, it is simply a case of customer goodwill that businesses allow goods to be returned. Caveat Emptor = Buyer Beware.
Is trading sun store a scam?
The online store is based in China and purports to sell designer goods. As most designer goods are produced very cheaply in China for an immorally high rip-em-off price in the west anyway, the stuff could well be unauthorised output from the same factories or last years surplus. Then again it might not be. Caveat emptor.
Is New Delhi in India a good place to shop?
It depends on what you're looking for. A. Delhi is known for its furniture shops. Clothing items in roadside markets like the Lajpat Nagar, Sarojini Nagar and Karol Bagh, miscellaneous items in Chandni Chowk are cheap and good. Expect to bargain. Women love 'em but Caveat Emptor! B. Some worldwide branded goods actually have cheaper versions for India - so you may find it worthwhile. Check out shoes.
Exceptions to the law of supply?
Law of supply has also some exception which is discussed below 1. Agricultural goods 2. Perishable goods 3. Goods of social distinction 4. Law of returns 5. Sale of old stock or auction of goods 6. Future expectations about price about price chsnge
Is ideeli a scam?
No, ideeli is a "sample sales" site. Sample sales are primarily structured to help manufacturers get rid of overstock. Sales are usually available on a short term basis: one or two days, or even one or two hours. Sample sales are common to, but not limited to, the fashion industry (in this case, ideeli is a fashion sample sales concern). Sometimes items on sale are from previous seasons but equally as not from the current season. Sample sales allow buyers to get superior goods at a fraction of the normal price. Caveat emptor (buyer beware). Source: Wikipedia entry on "sample sales."
