|Noun||1.||caveat emptor - a commercial principle that without a warranty the buyer takes upon himself the risk of quality|
CAVEAT EMPTOR. Let the purchaser take heed; that is, let him see to it, that
the title he is buying is good. This is a rule of the common law, applicable
to the sale and purchase of lands and other real estate. If the purchaser
pay the consideration money, he cannot, as a general rule, recover it back
after the deed has been executed; except in cases of fraud, or by force of
some covenant in the deed which has been broken. The purchaser,if he fears a
defect of title, has it in his power to protect himself by proper covenants,
and if he fails to do so, the law provides for him no remedy. Cro. Jac. 197;
1 Salk. 211 Doug. 630, 654; 1 Serg. & R. 52, 53, 445. This rule is
discussed with ability in Rawle on Covenants for Title, p. 458, et seq. c.
13, and the leading authorities collected. See also 2 Kent, Com. Lect. 39,
p. 478; 2 Bl. Com. 451; 1 Stor, Eq. Sec. 212 6 Ves. 678; 10 Ves. 505; 3
Cranch, 270; 2 Day, R. 128; Sugd. Vend. 221 1 Bouv. Inst. n. 954-5.
2. This rule has been severely assailed, as being the instrument of falsehood and fraud; but it is too well established to be disregarded. Coop., Just. 611, n. See 8 Watts, 308, 309.