Caveat emptor as 'information asymmetry'. Defects in the good or service may be hidden from the buyer, and only known to the seller. A common way that information asymmetry between seller and buyer has been addressed is through a legally binding warranty, such as a guarantee of satisfaction. But without such a safeguard in place the ancient rule applies, and the buyer should beware. Under the principle of "caveat emptor", the buyer could not recover damages from the seller for defects on the property that rendered the property unfit for ordinary purposes. The only exception was if the seller actively concealed latent
What Difference Does It Make? What Difference Does It Make? "What Difference Does It Make?" is a song by the English rock band the Smiths, written by singer Morrissey and guitarist Johnny Marr. It was the band's third single and is featured on their debut album, "The Smiths". A different version, recorded for the John Peel Show on BBC Radio 1, is included in the compilation album "Hatful of Hollow". The song was one of the band's first significant chart hits, peaking at No. 12 in the UK Singles Chart. However, Morrissey has said "What Difference Does It Make?" is among his least favourite songs