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 insist on an "even exchange" for other, "conforming" instances of the product. When conforming goods are not available in stock but are available for the dealer to purchase (usually on the open or "spot" market), the buyer may require that the seller obtain the goods elsewhere, even at a higher price, with the seller having to incur a loss equivalent to the price difference. If the vendor still does not or cannot provide the goods and the dispute proceeds to litigation (as opposed to renegotiation or settlement), then as in all cases of vendor breaches of contract, the buyer may