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"The law in relation to misrepresentation makes a mockery of the hallowed principle of caveat emptor"
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"The law in relation to misrepresentation makes a mockery of the hallowed principle of caveat emptor" Introduction The truth of this statement has to be interpreted. To begin with, what is caveat emptor? Caveat emptor simply means: "let the buyer beware". The basic premise is that the buyer is at his/her own risk when purchasing a product, and should therefore examine it for obvious defects. In comparison with misrepresentation, misrepresentation is a false statement of existing or past fact made by one party of the contract to the other, in which the other party had relied upon. There are many types of misrepresentations, and recently, on this principle, common law made it possible for the injured party, usually a consumer, to sue where there has been a misrepresentation. It is because of this, that some say the caveat emptor principle is diminishing. Yet, on the other hand, others say it is...
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