The rule of caveat emptor
A) is the supreme rule throughout our economy today.
B) still exists, but only outside of the extensive framework of government regulations of business.
C) is essentially the only rule with regard to buying and selling in our economy that is consistent with the concepts of freedom and liberty enshrined in our Constitution.
D) is of little importance in our economy today.

Question

Quizplus · Accepted Answer

The rule of caveat emptor still exists, but mainly in situations where there are no specific government regulations in place to protect buyers. However, in regulated industries such as healthcare and finance, consumer protection laws have been put in place to ensure fairness and safety for both buyers and sellers. Therefore, while caveat emptor is not the supreme rule throughout our economy today, it is still relevant in certain circumstances.

The Rule of Caveat Emptor