What was the doctrine of caveat emptor in sales or lease contracts?
A) It was a law that balanced risk of loss between seller and buyer.
B) It was a law that stated the risk of loss was on the buyer.
C) It was a law that gave more protection to the buyer in a sales contract.
D) It was a law that stipulated the issue of warrants in sale or lease transactions.

Question

Quizplus · Accepted Answer

The doctrine of caveat emptor stated that the risk of loss was on the buyer, meaning that it was the buyer's responsibility to examine the product and determine its suitability before purchasing. This shifted the burden of responsibility from the seller to the buyer.

What Was the Doctrine of Caveat Emptor in Sales or Lease