Caveat emptor sale of new residential housing by a builder-seller and that the "caveat emptor" rule applies to all other real-estate sale situations (e.g. homeowner to buyer). Other jurisdictions have provisions similar to this. Under Article 2 of the Uniform Commercial Code, adopted by all U.S. states, the sale of new goods is governed by the "perfect-tender" rule unless the parties to the sale expressly agree in advance to terms equivalent to "caveat emptor" (such as describing the goods as sold "as is" and/or "with all faults") or other limitations such as the below-discussed limitations on remedies. The perfect-tender rule states that
Caveat emptor goods that do not meet legal standards of acceptance. Consumer purchases are regulated by the Consumer Rights Act 2015, whilst business-to-business purchases are regulated by the Sale of Goods Act 1979. In the UK, consumers have the right to a full refund for faulty goods. However, traditionally, many retailers allow customers to return goods within a specified period (typically two weeks to two months) for a full refund or an exchange, even if there is no fault with the product. Exceptions may apply for goods sold as damaged or to clear. Goods bought through "distance selling," for example online or