Question

In the early 1900s, buyers had no recourse after purchasing a product; buyer beware_______

a. Caveat emptor
b. Caveat venditor
c. Res ipsa loquitur
d. Nolo contendere

Answer 1

The buyer had no recourse after purchasing a product in the early 1900s, a concept known as 'caveat emptor' or 'let the buyer beware.'

Step-by-step explanation:

In the early 1900s, buyers had no recourse after purchasing a product; the Latin phrase that signifies 'let the buyer beware' is caveat emptor. This principle placed the onus on buyers to perform due diligence before making a purchase. Over time, consumer protection laws have evolved, and entities like the Federal Trade Commission (FTC) work to prevent misleading and false advertising, thus providing protections that did not exist in the early 20th century. Nevertheless, the wisdom of caveat emptor remains relevant, reminding consumers to remain vigilant.