Court Reporter Practice Exam

What does the term "caveat emptor" translate to?

1. Let the buyer beware

2. Let the seller beware

3. Buyer accepts the goods

4. Beware of deception

The correct answer is: Let the buyer beware

The term "caveat emptor" translates to "let the buyer beware," which is a crucial principle in commercial transactions. This concept places the responsibility on buyers to exercise caution and conduct due diligence before completing a purchase, understanding that once a transaction is finalized, the seller generally holds no liability for defects or issues with the goods sold. This principle is particularly important in sales of goods and real estate, emphasizing that the buyer must take an active role in ensuring that what they are purchasing meets their needs and expectations. The phrase itself originates from Latin, illustrating the historic foundation of this legal doctrine. In contrast, the other interpretations do not accurately capture the essence of the term. "Let the seller beware" implies a focus on the seller's responsibilities, whereas "buyer accepts the goods" and "beware of deception" do not reflect the specific cautionary principle that caveat emptor conveys regarding buyer diligence and accountability in the market.