Caveat Emptor

Let the purchaser beware. It isa rule of the common law, in which respect it is directly opposed to the civil law, that the purchaser is bound to examine and ascertain the defects in the thing sold, and unless there be some misrepresentation or artifice to disguise it, or some warranty as to its qualities or character, the vendee is bound by the contract, notwithstanding there may be intrinsic defects and vices in it, known to the vendor and unknown to the vendee, materially affecting its value.

2 Kent. Com. Lect. 39, p. 478; 2 BI. Com. 451; 1 Story, Eq. § 212; 221.

This rule has been severely assailed, not without some appearance of justice, as being the instrument of falsehood and fraud; but although its policy has been frequently questioned, it is too well established to be disregarded.

Coop. Just. 611, ne