Uberrima fides Uberrima fides Uberrima fides (sometimes seen in its genitive form uberrimae fidei) is a Latin phrase meaning "utmost good faith" (literally, "most abundant faith"). It is the name of a legal doctrine which governs insurance contracts. This means that all parties to an insurance contract must deal in good faith, making a full declaration of all material facts in the insurance proposal. This contrasts with the legal doctrine "caveat emptor" ("let the buyer beware"). A higher duty is expected from parties to an insurance contract than from parties to most other contracts in order to ensure the disclosure of all
Caveat emptor goods that do not meet legal standards of acceptance. Consumer purchases are regulated by the Consumer Rights Act 2015, whilst business-to-business purchases are regulated by the Sale of Goods Act 1979. In the UK, consumers have the right to a full refund for faulty goods. However, traditionally, many retailers allow customers to return goods within a specified period (typically two weeks to two months) for a full refund or an exchange, even if there is no fault with the product. Exceptions may apply for goods sold as damaged or to clear. Goods bought through "distance selling," for example online or