Caveat emptor by phone, also have a statutory "cooling off" period of fourteen calendar days during which the purchase contract can be cancelled and treated as if not done. Although no longer applied in consumer law, the principle of "caveat emptor" is generally held to apply to transactions between businesses unless it can be shown that the seller had a clear information advantage over the buyer that could not have been removed by carrying out reasonable due diligence. "Caveat venditor" is Latin for "let the seller beware." In the landmark case of "MacPherson v. Buick Motor Co." (1916), New York Court Appeals
Steve Buyer Steve Buyer Stephen Earle Buyer ( ; born November 26, 1958) is the former U.S. Representative for , and previously the , serving from 1993 until 2011. In 2012, Buyer started working for R.J. Reynolds, promoting the use of smokeless tobacco. He is a member of the Republican Party. Buyer holds the rank of Colonel in the United States Army Reserve. On January 29, 2010, Buyer announced he would not seek a tenth term to the House to spend more time with his wife, who has an incurable autoimmune disease. In January 2011, Buyer became a lobbyist for McKesson Corp.