Final answer:
The legal concept of caveat emptor translates to "let the buyer beware", indicating that buyers are responsible for checking the quality of goods before purchasing. While the FTC does regulate factual claims in advertising, consumers still need to exercise caution.
Step-by-step explanation:
The legal concept of caveat emptor closely translates to "let the buyer beware." This principle applies to the idea that a buyer is responsible for doing their due diligence when purchasing goods or services. It means that the onus is on the buyer to check the quality and suitability of goods before a purchase is made.
While some consumer protections exist, such as those enforced by the Federal Trade Commission (FTC), which checks factual claims about product performance, there's a limit to what can be regulated. Exaggerated or ambiguous language in advertising is often permissible provided it's not outright false.
However, if consumers rely solely on advertising without further investigation or verification, they run the risk of making uninformed decisions, thus the adage caveat emptor serves as a cautionary reminder.