Definition: caveat emptor

In some jurisdictions, the buyer had no guarantee as to the quality of the products. Today, the laws of several countries require that the product comply with what it is sold for. However, this implicit guarantee can be difficult to enforce, not to mention that it does not apply to all goods. As a result, buyers must be vigilant.

In addition to quality, this expression applies to the return policy for goods. In most countries, there are no legal requirements that oblige the seller to refund or exchange goods.

However, many sellers offer a credit note instead of a refund. In the case of software, films and other products with copyright, many sellers will exchange the item for another product with the same title. Most shops require a receipt and impose a time limit for exchanges or credit notes. Some large chain stores have more generous or flexible policies.