| real.est. |
caveat emptor (Generally, caveat emptor is the contract law principle that controls the sale of real property, but may also apply to sales of other goods. | Under the principle of caveat emptor, the buyer could not recover damages from the seller for defects on the property that rendered the property unfit for ordinary purposes. | The modern trend in the U.S. is that the implied warranty of fitness for a particular purpose applies in the real-estate context to only the sale of new residential housing by a builder-seller and the caveat emptor rule applies to all other real-estate sale situations (e.g. homeowner to buyer). 4uzhoj) |
