Caveat Emptor - Law Dictionary Search Results
Home Dictionary Name: caveat emptorCaveat emptor
Caveat emptor. Hob. 99.--(Let the purchaser beware.)The rule of 'caveat emptor' as to purchase of goods and animals with its existing modifications was thrown into statutory shape by s. 14 of the (English) Sale of Goods Act, 1893, by which 'subject to the provision of this Act and of any statute in that behalf' (as e.g., the (English) Fertilisers and Feeding Stuffs Act, 1926 (16 & 17 Geo. 5, c. 45), s. 1), 'there is no implied warranty or condition as to the quality or fitness for any particular purpose of goods supplied under a contract of sale,' except (1) on a purchase in reliance on the seller's skill; or (2) on a purchase by description from a seller who deals in goods of that description, in which case there is an implied warranty that the goods shall be of merchantable quality; or (3) by usage of trade.As to the implied condition of the right of a seller to sell the goods, see s. 12, ibid....
caveat emptor
caveat emptor [New Latin, may the buyer beware] : a principle in commercial transactions: without a warranty the buyer takes the risk as to the condition of the property or goods compare products liability at liability, warranty ...
Emptor
Emptor, a buyer. See CAVEAT EMPTOR....
Buyer
Buyer [fr. bycgan, bohte, A. S.; bygge, O. E.; to purchase for money] a purchaser. See CAVEAT EMPTOR.Means a person who buys or agrees to buy goods. [Sale of Goods Act, 1930 (3 of 1930), s. 2 (1)]Means whoever buys any goods or receives any services from a supplier for consideration. [Interest on Delayed Payments to Small Scale and Ancillary Industrial Undertakings Act, 1993 (32 of 1993), s. 2 (c)]--'Buyer' would mean where a person by virtue of the payment gets a right to receive specific goods and not where he is merely allowed/permitted to carry on business in that trade, Union of India v. Om Prakash S. S. and Co., AIR 2001 SC 1202: (2001) 3 SCC 593. [Income-tax Act (43 of 1961), s. 206(c)] Means any generating company or licensee or consumer whose system receives electricity from the system of generating company or licensee, Central Electricity Authority (Installation and Operation of Meters) Regulations, 2006, Reg. 2(h).Means whoever buys any goods or receives any services from a ...
Contract for sale of land
Contract for sale of land. The incidents of a contract for sale of land re regulated partly by statute and partly by the practice of conveyancers. A contract for sale of land must be in writing, (English) L.P. Act, 1925, s. 40. See FRAUDS, STATUTE OF. If the contract is a simple, unconditional, or open contract for sale of land, it is implied that the vendor is to make a good title to the land for an estate in fee simple free from incumbrances, Hughes v. Parker, 8 M & W 344. He is under an obligation to show a good title (in ordinary circumstances for the thirty years preceding the date of contract, see ABSTRACT), and to prove that title by sufficient evidence. the expenses of showing the title, i.e., the abstract, falls on the vendor and so also the expenses of production of material documents in his possession or in that of his trustees an mortgagees. The expenses of production for verification of those which are not in such possession are to be borne by the purchaser, (English) L.P....
Warranty
Warranty, a guarantee or security; formerly a promise or covenant by deed by the bargainer, for himself and his heirs, to warrant and secure the bargainee and his heirs against all persons for the enjoying of the thing granted accompanied by a promise, express or implied, that if eviction should take place, the warrantor would substitute an equivalent estate in its place-see Co. Litt. 365 a. In that form it has been superseded in practice by 3 & 4 Wm. 4, cc. 27 (s. 39) and 74 (s. 14). See RECOVERY.More generally, a warranty is any agreement either accompanying a transfer of property, or collateral to the contract for such transfer, see Lawrence v. Cassell, (1930) 2 KB 83, and Miller v. Cannon Hill Estates Ltd., (1931) 2 KB 113, or to any other agreement or transaction, and in so far as it is a contract a warranty does not differ from any other contractual promise. A warranty may be express or implied by law or statute.For instances of implied warranties, see that title, CAVEAT EMPTOR, ...
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