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
Paulette Caveat Canada to hold public hearings on the proposed Mackenzie Valley Gas Pipeline (hearings that become known as the Berger Inquiry). Paulette Caveat The "Paulette" Case refers to the filing of a legal caveat concerning the different interpretations of Treaty No. 8 and No. 11 between the Government of Canada and the Denesoline in the Northwest Territories (NWT). In 1973, Fort Smith Chief Francois Paulette, along with sixteen NWT Chiefs, attempted to file a caveat at the land titles office in Yellowknife, Northwest Territories to gain a legal interest in of land in Northwest Territories, Canada. The Chiefs claimed the land,