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caveat emptor example pepe unchain Bnb Eth XRP crypto futures coinbase futures binance futures

What is caveat emptor?

Caveat emptor is a Latin phrase that is translated as “let the buyer beware.” The phrase describes the concept in contract law that places the burden of due diligence on the buyer of a good or service. Caveat emptor is a fundamental principle in commerce and contractual relationships between a buyer and a seller.

Why is caveat emptor a problem?

Caveat emptor poses a problem: it favors sellers. A seller is usually better positioned to know the quality of their products than a buyer. Buyers are at a disadvantage, even if they try to inspect products. This problem is known as information asymmetry.

What is the difference between Caveat Emptor and Caveat Venditor?

The counterpart to Caveat Emptor is Caveat Venditor, which translates to Let the Seller Beware. In this principle, the seller is held responsible for all product defects or malfunctions unless they expressly disclaim responsibility for it.

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