Caveat Emptor

This means “let the buyer beware“, i.e in a contract of sale of goods the seller is under no duty to reveal unflattering truths about the goods. Therefore, when a person buys some goods, he must examine them thoroughly. If the goods turn out to be defective or do not suit his purpose or if he depends upon his own skill or judgement and makes a bad selection, he cannot blame anybody else.

Example:  If A asks a shopkeeper to give him medicine for cold and does not give him any other instruction. Then, if medicine is  not able to cure A cold. Shopkeeper is not be held responsible. Rule of Caveat Emptor implies, that A should have given proper instructions and doctors prescription

Exceptions to Caveat Emptor: The doctrine of caveat emptor has certain important exceptions. The exceptions are however briefly referred to:-

  1. Fitness for buyer’s purpose- 
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Kinds Of Goods-The Sale of Goods Act-1930

Section 2(2), defines goods, “Goods” means every kind of movable property other than actionable claims and money;and includes stock and shares, growing crops,grass and things attached to or forming par of land which are agreed to be severed before sale or under the contract of sale. For the better understanding, the Goods were further divided into three major categories.

1.Existing Goods: These goods are physical in existence and which are in sellers ownership and or possession at the time of entering the contract of sale are called “Existing goods”. Where seller is the owner, he has the general property in time. These goods are further divided into two categories:

  • Specific Goods/ Ascertain goods- Goods identifies and agreed upon at the time of the making of the contract of sale. Example: A agrees to sell B a particular DVD player being a distinctive number.
  • Un-ascertained goods: The goods which are not separately identified or ascertained at the time of the making of the contract. Defined only by the description.

2. Future Goods: These goods are to be manufactured. That is when the contract is been done for the sale, then producer manufactures it. These goods may be either not yet in existence or in existence but not yet acquired by the seller.
Example: A agrees to sell B all the milk that his cow may yield during the coming year.

3.Contingent Goods: Goods, the acquisition of which by the seller depends upon an uncertain contingency are called contingent goods

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