WAEC SSCE - Commerce - 2017 (Objective)

Question 1 Report

The term which enjoins a buyer to examine goods thoroughly before making payment is?

uberimae fidei

caveat venditor

consumer sovereignty

caveat emptor

Answer Details

The term that enjoins a buyer to examine goods thoroughly before making payment is "caveat emptor". Caveat emptor is a Latin term that means "let the buyer beware". This legal principle places the responsibility on the buyer to examine the goods or services they intend to purchase before completing the transaction. This means that the buyer must take care to ensure that the goods or services meet their requirements and are in good condition before making payment. This principle is important because it places the burden of risk on the buyer, rather than the seller. It also encourages buyers to be more cautious when making purchases and to carefully examine goods and services to avoid being taken advantage of by unscrupulous sellers. In summary, caveat emptor reminds buyers that they have a responsibility to protect their own interests by thoroughly examining goods or services before making payment.






Press & Hold to Drag Around
Click Here to Close