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 recover only the damages that s/he would have suffered had s/he taken all feasible steps to minimize ("mitigate") his/her damages suffered. As a default rule, the perfect-tender rule may be "contracted around" in ways that specify or limit a buyer's remedies (and that accordingly reduce the market price that rational buyers are willing to pay for the goods). In many cases, the vendor will not provide a refund but will provide store credit. In the cases of software, movies, and other copyrighted material, many vendors will offer only a direct exchange for another copy of the same title, with the