Asked by Kierra Lewis on Jun 19, 2024
Verified
"Caveat emptor" requires certain disclosures to be made by the buyer to the seller about the condition of the property.
Caveat Emptor
A Latin phrase meaning "let the buyer beware," indicating that the buyer assumes the risk for the quality and condition of goods purchased unless they are protected by warranty.
Disclosures
The act of making known to the public or to relevant parties important information, often related to financial data or operational details, required by law or regulation.
- Identify the legal and moral considerations inherent in real estate transactions, encompassing the duties and responsibilities of brokers.
Verified Answer
LW
lynetta watersJun 23, 2024
Final Answer :
False
Explanation :
"Caveat emptor" is a Latin phrase that means "let the buyer beware," implying that the responsibility for due diligence about the property's condition lies with the buyer, not the seller.
Learning Objectives
- Identify the legal and moral considerations inherent in real estate transactions, encompassing the duties and responsibilities of brokers.
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