In Indian law, the principle of "Caveat Emptor" is embodied, subject to exceptions, in the law governing
Question and options
In Indian law, the principle of "Caveat Emptor" is embodied, subject to exceptions, in the law governing
- Sale of immovable property
- Sale of goods
- Negotiable instruments
- Partnership agreements
Answer and explanation
Correct answer: B - Sale of goods
Caveat emptor ("let the buyer beware") is embodied in section 16 of the Sale of Goods Act, 1930: subject to exceptions, there is no implied condition as to the quality or fitness of goods sold, so the buyer must examine them. In a sale of immovable property, section 55(1)(a) of the Transfer of Property Act, 1882 instead requires the seller to disclose material latent defects known to him. The rule is not part of the law of negotiable instruments or partnership agreements.
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