Caveat emptor Judge Benjamin N. Cardozo established that privity of duty is no longer required in regard to a lawsuit for product liability against the seller. This case is widely regarded as the origin of "caveat venditor" as it pertains to modern tort law in US. "Caveat lector" is Latin for "let the reader beware". One variant of this phrase is "caveat auditor", where the caveat is addressed to any receiver of a given (kind of) message (not necessarily a written one). Caveat emptor Caveat emptor (, ) is Latin for "Let the buyer beware" (from "caveat", "may he beware", a subjunctive
Buyer-determined auction determine under what circumstances a buyer would prefer this format have been explored. Buyer-determined auction A Buyer-determined Auction is a type of reverse auctions in a procurement setting, also known simply as procurement auctions. These are auctions where bidders are the sellers, and they bid on a contract to provide supplies to the buyer. A common form of procurement auction is known as a scoring auction. In that auction form, the score that the buyer gives each bidder depends on well-defined attributes of the offer and the bidder. This scoring function is formulated and announced prior to the start of