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  • Caveat Emptor

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    Caveat emptor, meaning "let the buyer beware," warns consumers to understand all terms and costs before purchasing a product to avoid buyer's remorse. Today, consumer protection laws aim to penalize companies that exploit customers for profit. However, some argue the pendulum has swung too far when companies are sued over personal accidents or health issues resulting from individual choices rather than fraudulent practices. In India, caveat emptor remains influential as consumer laws have yet to sufficiently evolve.

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    Caveat emptor, meaning "let the buyer beware," warns consumers to understand all terms and costs before purchasing a product to avoid buyer's remorse. Today, consumer protection laws aim to penalize companies that exploit customers for profit. However, some argue the pendulum has swung too far when companies are sued over personal accidents or health issues resulting from individual choices rather than fraudulent practices. In India, caveat emptor remains influential as consumer laws have yet to sufficiently evolve.

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    7 views1 page

    Caveat Emptor

    Uploaded by

    ashishmardia
    Caveat emptor, meaning "let the buyer beware," warns consumers to understand all terms and costs before purchasing a product to avoid buyer's remorse. Today, consumer protection laws aim to penalize companies that exploit customers for profit. However, some argue the pendulum has swung too far when companies are sued over personal accidents or health issues resulting from individual choices rather than fraudulent practices. In India, caveat emptor remains influential as consumer laws have yet to sufficiently evolve.

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    "Caveat Emptor" is an old Latin term that means, "Let the buyer beware.

    " Its basic meaning is


    that as a buyer, you should fully understand the product, terms, conditions and cost before you
    make the purchase. Otherwise you may end up with what is known as buyer's remorse - regret,
    shame and guilt after you've made the purchase. Today we live in a consumer advocate society.
    There are several laws aimed at penalizing and outlawing companies and individuals who are
    unscrupulously exploiting consumers for maximum gain and profit

    Read more: http://vlex.com/vid/are-you-victim-or-volunteer-65989534#ixzz136uCoCyq

    In fact, one would even argue that the pendulum may have swung to the other extreme in
    America where MacDonald’s was sued by a customer who spilt scalding-hot coffee on her
    own laps and by the parents of obese kids who gorged on junk food and held the food chain
    responsible for their condition. In India, the concept of ‘caveat emptor’ is alive and kicking
    and we have a long way to go before consumer laws evolve adequately.

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