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 if a buyer who inspects new goods with reasonable promptness discovers them to be "nonconforming" (failing to meet the description provided or any other standards reasonably expectable by a buyer in his/her situation) and does not use the goods or take other actions constituting acceptance of them, the buyer may promptly return or refuse to accept ("reject") them and demand that the defect be remedied ("cured"). When goods fitting the same description and expectations are available for sale ("e.g.", when the vendor has other instances of the same mass-produced merchandise in stock inventory), either the vendor or the buyer may