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Doctrine of Caveat Emptor requires the buyer :
- a)To be careful while making a purchase.
- b)To depend on representation made by seller.
- c)To warn a seller not to sell any fake goods.
- d)Not to make any advance payment.
Correct answer is option 'A'. Can you explain this answer?
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Doctrine of Caveat Emptor requires the buyer :a)To be careful while ma...
The doctrine of caveat emptor is enshrined in Section 16 of the Sale of Goods Act, 1930. This provision corresponds to Section 14 of the English Act of 1893. This doctrine of caveat emptor is based on the fundamental principle that once a buyer is satisfied with the product’s suitability, then he has no subsequent right to reject such product. The objective of introducing this provision was to ensure that the buyer purchases the product at his own risk after being assured of the quality of the product. He is required to use his own skill and judgment except in cases of fraud where the doctrine of caveat emptor does not apply.
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Doctrine of Caveat Emptor requires the buyer :a)To be careful while ma...
Doctrine of Caveat Emptor
The Doctrine of Caveat Emptor, which means "Let the buyer beware," is a principle in contract law that places the responsibility on the buyer to be cautious and thorough when making a purchase.
Explanation
Implications
In conclusion, the Doctrine of Caveat Emptor emphasizes the importance of due diligence and caution on the part of the buyer when making a purchase. It is essential for buyers to be proactive in protecting their interests and ensuring that they are making informed decisions.
The Doctrine of Caveat Emptor, which means "Let the buyer beware," is a principle in contract law that places the responsibility on the buyer to be cautious and thorough when making a purchase.
Explanation
- To be careful while making a purchase: The buyer is expected to carefully inspect the goods or property before buying to ensure that they are in satisfactory condition. This includes checking for any defects or issues that may affect the quality or value of the item.
Implications
- Depend on representation made by the seller: The buyer cannot solely rely on the seller's statements or representations about the product. It is their responsibility to verify the accuracy of the information provided and to seek out any additional details or assurances.
- Warn a seller not to sell any fake goods: The buyer should be vigilant and cautious to ensure that they are not being sold counterfeit or fake goods. They should take necessary steps to confirm the authenticity of the product before making a purchase.
- Not to make any advance payment: Given the principle of Caveat Emptor, the buyer should refrain from making any advance payments or commitments until they are fully satisfied with the product and have completed their due diligence.
In conclusion, the Doctrine of Caveat Emptor emphasizes the importance of due diligence and caution on the part of the buyer when making a purchase. It is essential for buyers to be proactive in protecting their interests and ensuring that they are making informed decisions.
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Doctrine of Caveat Emptor requires the buyer :a)To be careful while making a purchase.b)To depend on representation made by seller.c)To warn a seller not to sell any fake goods.d)Not to make any advance payment.Correct answer is option 'A'. Can you explain this answer?
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Doctrine of Caveat Emptor requires the buyer :a)To be careful while making a purchase.b)To depend on representation made by seller.c)To warn a seller not to sell any fake goods.d)Not to make any advance payment.Correct answer is option 'A'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Doctrine of Caveat Emptor requires the buyer :a)To be careful while making a purchase.b)To depend on representation made by seller.c)To warn a seller not to sell any fake goods.d)Not to make any advance payment.Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Doctrine of Caveat Emptor requires the buyer :a)To be careful while making a purchase.b)To depend on representation made by seller.c)To warn a seller not to sell any fake goods.d)Not to make any advance payment.Correct answer is option 'A'. Can you explain this answer?.
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