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 signatories did not believe that Treaty No. 8 and No. 11 extinguished their Aboriginal rights to the land and that the Treaties were unfulfilled. Justice Morrow agreed with these witnesses and ruled that the Chiefs had established a case for claiming Aboriginal rights sufficiently to warrant the filing of a caveat. Although the ability to register the caveat was overturned by the Supreme Court of Canada, Justice Morrow's findings in respect to Aboriginal rights were not overturned. The "Paulette" case resulted in the initiation of the Dene/Metis comprehensive land claim process. The "Paulette" and "Calder" cases prompted the Government of