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
Do You Know What I Mean Do You Know What I Mean "Do You Know What I Mean" is a song written and performed by Lee Michaels. It reached #6 on the U.S. "Billboard" Hot 100 and #4 on the "Cash Box" Top 100 in the summer of 1971. The song was featured on his 1971 album, "5th". The song was produced by Michaels. The single ranked #19 on "Billboard's" Year-End Hot 100 singles of 1971. Australian musician Renée Geyer recorded a version in 1981. The song was released in October 1981 as the second single from her seventh studio album, "So Lucky". The song peaked