All India Bar Examination (AIBE) 6-VI Previous Year Question Papers with Answers

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21.

Caveat emptor means

A: Purchaser beware
B: Seller beware
C: Things outside commerce
D: A warning letter

The answer is: A

Explanation

The correct option is A: Purchaser beware. 

Caveat emptor is a Latin phrase that means "let the buyer beware". It is a legal principle that places the responsibility of checking the quality and suitability of goods or services on the buyer, rather than the seller. It means that the buyer buys at his or her own risk, and cannot hold the seller liable for any defects or problems that arise after the purchase, unless there is a warranty or a fraud involved. Caveat emptor is sometimes used as a disclaimer in contracts or advertisements to warn potential buyers to do their research and ask questions before making a purchase. Caveat emptor is commonly used in real estate transactions, but it may also apply to other types of goods, such as cars or items at thrift stores or yard sales