Caveat emptor: Difference between revisions

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[[File:BuyerBeware.jpg|alt="Caveat Emptor - Buyer Beware Sign in Alley." Generated by Grok 3, xAI, May 7, 2025. |thumb|200x200px|Caption]]

Latin- “''Let the buyer beware''”; The principal that the ~~onerous~~ for ~~responsibility of~~ the overall satisfaction ~~of the purchaser in~~ a ~~sale~~ rests upon the buyer.

Latin for “''Let the buyer beware''”; The principal states that the onus for the overall satisfaction with a purchase rests upon the buyer.

==How it works==

It is the responsibility of the buyer to familiarize themselves well enough with the product or service to evaluate whether it meets or exceeds their own subjective requirements of such a product or service for the price offered. This operates under postulate that the transaction is voluntary, and the seller can not be expected to understand the subjective metrics by which buyers may evaluate the product or service.

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==Examples==

'''Information overload''' - Consumers face hundreds of purchase decisions across countless products, each with their own specifications and terms<ref>Obar~~, J.~~ A.~~, &~~ Oeldorf-~~Hirsch, A. (~~2018). The biggest lie on the Internet: ignoring the privacy policies and terms of service policies of social networking services~~. ''Information, Communication & Society'', ''23''(1), 128–147. <nowiki>~~https://doi~~.org~~/10.1080/1369118X.2018.1486870~~</nowiki>~~</ref>

'''Information overload''' - Consumers face hundreds of purchase decisions across countless products, each with their own specifications and terms<ref>{{Cite journal |last=Obar |first=Jonathan A. |last2=Oeldorf-Hirsh |first2=Anne |date=3 Jul 2018 |title=The biggest lie on the Internet: ignoring the privacy policies and terms of service policies of social networking services |url=https://www.tandfonline.com/doi/full/10.1080/1369118X.2018.1486870 |journal=Information, Communication & Society |volume=23 |issue=1 |pages=128-147 |via=Taylor & Francis Online}}</ref>

'''Technical complexity''' - Many modern products (software, electronics, financial products) require specialized knowledge to fully understand

'''Dynamic agreements''' - Terms of service that change after purchase create a moving target for consumer diligence<ref>Wang~~, P. (~~2019~~, May 29).~~ Protect ~~yourself from hidden fees. ''Consumer Reports''. <nowiki>~~https://www.consumerreports.org/money/fees-billing/protect-yourself-from-hidden-fees-a1096754265/~~</nowiki>~~</ref>

'''Dynamic agreements''' - Terms of service that change after purchase create a moving target for consumer diligence<ref>{{Cite web |last=Wang |first=Penelope |date=29 May 2019 |title=Protect Yourself From Hidden Fees |url=https://www.consumerreports.org/money/fees-billing/protect-yourself-from-hidden-fees-a1096754265/ |url-status=live |access-date=10 May 2025 |website=Consumer Reports}}</ref>

'''Hidden information''' - Critical product aspects may be obscured in technical jargon or buried in lengthy documentation

@@ Line 1: / Line 1: @@
 [[File:BuyerBeware.jpg|alt="Caveat Emptor - Buyer Beware Sign in Alley." Generated by Grok 3, xAI, May 7, 2025.  |thumb|200x200px|Caption]]
-Latin- “''Let the buyer beware''”; The principal that the onerous for responsibility of the overall satisfaction of the purchaser in a sale rests upon the buyer.
+Latin for “''Let the buyer beware''”; The principal states that the onus for the overall satisfaction with a purchase rests upon the buyer.
 ==How it works==
 It is the responsibility of the buyer to familiarize themselves well enough with the product or service to evaluate whether it meets or exceeds their own subjective requirements of such a product or service for the price offered. This operates under postulate that the transaction is voluntary, and the seller can not be expected to understand the subjective metrics by which buyers may evaluate the product or service.
@@ Line 8: / Line 8: @@
 ==Examples==
-'''Information overload''' - Consumers face hundreds of purchase decisions across countless products, each with their own specifications and terms<ref>Obar, J. A., & Oeldorf-Hirsch, A. (2018). The biggest lie on the Internet: ignoring the privacy policies and terms of service policies of social networking services. ''Information, Communication & Society'', ''23''(1), 128–147. <nowiki>https://doi.org/10.1080/1369118X.2018.1486870</nowiki></ref>
+'''Information overload''' - Consumers face hundreds of purchase decisions across countless products, each with their own specifications and terms<ref>{{Cite journal |last=Obar |first=Jonathan A. |last2=Oeldorf-Hirsh |first2=Anne |date=3 Jul 2018 |title=The biggest lie on the Internet: ignoring the privacy policies and terms of service policies of social networking services |url=https://www.tandfonline.com/doi/full/10.1080/1369118X.2018.1486870 |journal=Information, Communication & Society |volume=23 |issue=1 |pages=128-147 |via=Taylor & Francis Online}}</ref>
 '''Technical complexity''' - Many modern products (software, electronics, financial products) require specialized knowledge to fully understand
-'''Dynamic agreements''' - Terms of service that change after purchase create a moving target for consumer diligence<ref>Wang, P. (2019, May 29). Protect yourself from hidden fees. ''Consumer Reports''. <nowiki>https://www.consumerreports.org/money/fees-billing/protect-yourself-from-hidden-fees-a1096754265/</nowiki></ref>
+'''Dynamic agreements''' - Terms of service that change after purchase create a moving target for consumer diligence<ref>{{Cite web |last=Wang |first=Penelope |date=29 May 2019 |title=Protect Yourself From Hidden Fees |url=https://www.consumerreports.org/money/fees-billing/protect-yourself-from-hidden-fees-a1096754265/ |url-status=live |access-date=10 May 2025 |website=Consumer Reports}}</ref>
 '''Hidden information''' - Critical product aspects may be obscured in technical jargon or buried in lengthy documentation