StudentShare solutions
Triangle menu

Caveat Emptor Is this common Law Maxim undermined - Essay Example

Not dowloaded yet

Extract of sample
Caveat Emptor Is this common Law Maxim undermined

This act is in addition to the existing law and accordingly a consumer usually has a remedy either in contract or in the tort of negligence (Slack 1997).
The term Caveat emptor connotes that let the buyer beware. It is a common law sales contract concept that exposes the buyer to the risk inherent in a transaction. Though it involves the principle of freedom to contract, nevertheless implied warranties in the context of sale of goods are latent in it (Rossini 1998)
The Sale of Goods Act 1893 was amended by several pieces of legislation, some of these are the Sale and Supply of Goods Act 1994, the Misrepresentation Act 1967, the Unfair Contract Terms Act 1977 and the Consumer Protection Act 1987 (Jones and Benson 2003).
This act was the first piece of legislation that provided protection to the buyer. Recently there had been a spate of legislations, whose purpose was to enhance the protection that had been made available to consumers. Some instances of such acts are the Misrepresentation Act 1967, the amended Sale of Goods Act (Sale and Supply of Goods Act 1994 and the Sale of Goods (Amendment) Act 1994) and the Unfair Terms Regulations (S.I 1994/3159. Unfair Terms Regulations in Consumer Contract Regulations 1994).
In this manner the caveat emptor doctrine has been progressively undermined and substituted by the doctrine of caveat venditor or let the seller beware. The noted legal luminary Atiyah opined that the basic principle of law was one of caveat venditor rather than one of caveat emptor (Atiyah and Adams 1995). In addition, the European Union as a champion of the rights of the consumer has planned to introduce legislation that would serve to bestow further protection on the rights of consumers. The Directive on the Sale of Consumer Goods and Associated Guarantees is an important step in this direction (EUROPA 2006).
There has been a marked reluctance on the part of judicial policy to interfere with contracts between parties having equal bargaining power. The Unfair Contract Terms Act attempts to extinguish the exclusion and limitation clauses that occur in consumer contracts and contracts that are based on one of the contracting parities' standard terms (Unfair Contract Terms Act (as amended on the 1st of October, 2003) 1977).
The above act is inapplicable to commercial contracts in general. In Photo Productions Limited v Securicor the House of Lords permitted Securicor to avoid liability for the acts of one of its employees (Photo Production Ltd v Securicor Transport Ltd 1980).
In the case of Slater and others v Finning Ltd, the House of Lords held that if a product failed for the reason that it had been used for a purpose other than that it had been designed for then the seller was absolved of any liability for such failure (Slater v Finning Ltd 1996). This was similar to the decision in Griffths v Peter Conway Ltd, in which the buyer had concealed from the seller as to what use was to be made of the goods (Griffths v Peter Conway Ltd 1939). This indicates very clearly that there has been a preference for caveat venditor in the context of the implied condition of suitability in commercial law.
The legal consequences of the rule of caveat emptor require the buyers to undertake ...Show more

Summary

The Sale of Goods Act provided a modicum of protection to buyers; however it was inadequate to the extent that it permitted sellers to evade their liability by incorporating exclusion clauses into their contracts (The UK Sale of Goods Act 1893). With the advent of the unfair contract terms act, there was a drastic reduction in the number of such exclusion clauses that were being incorporated into contracts of sale (Unfair Contract Terms Act (as amended on the 1st of October, 2003) 1977)…
Author : stammlaverne
Caveat Emptor Is this common Law Maxim undermined essay example
Read Text Preview
Save Your Time for More Important Things
Let us write or edit the essay on your topic
"Caveat Emptor Is this common Law Maxim undermined"
with a personal 20% discount.
Grab the best paper

Related Essays

Common Law
The important decision in respect of contract can be said to be Smith v Hughes , wherein the courts laid down the subjective as well as the objective test was laid down so as to determine whether a contract was existent or not.
15 pages (3750 words) Essay
Common Law
The existence of a contract is not dependent upon it in being writing thus a contract can be existent if it oral or informal. The important decision in respect of contract can be said to be Smith v Hughes , wherein the courts laid down the subjective as well as the objective test was laid down so as to determine whether a contract was existent or not.
15 pages (3750 words) Essay
Common law
.............................5 3- Exclusion clauses..................................................................................................................6 4- Applicability of Exclusion clauses....................................................
15 pages (3750 words) Essay
Common law Essay
(Eldon) In the early beginnings of common law it was for the most part a product of three English courts-King's Bench, Exchequer, and the Court of Common Pleas-"which competed successfully against other courts for jurisdiction and developed a distinctive body of doctrine." (Holmes)
7 pages (1750 words) Essay
Common law justice
Therefore this type of law is customary and provides the basic framework for a constantly changing legal paradigm that adjusts itself to new cases and appeals, but is still based on the principles of natural law combined with principles of civil law. "Civil law rests upon justice as its foundation, and hence civil law does not establish justice, but rather accepts it as the guiding light of legislation.
4 pages (1000 words) Essay
A, Critically explain an account for the equitable maxim equity will not assist a volunteer and B, Critically explain an account for the differences between equitable and common law remedies
The starting point is to examine the exceptions. In order to be able to make comment as to the evenness of the application comparison will be made with the occasions when the courts have
8 pages (2000 words) Essay
Difference- Common law/Civil law
Civil law came out of the Roman law of Corpus Juris Civilis or the Body of Civil law. The codification between the Common law and the Civil law is one of the major differences between the two and the methodological
2 pages (500 words) Essay
Common Law
ould require super fast and uninterrupted broadband connection continuously for the purposes of her job and that this was fundamental to her requirements in entering into the contract with CableFast. Accordingly, the fact that the connection did not work between 6pm and 9pm and
8 pages (2000 words) Essay
Common Law
An agreement is said to transform the negotiations between parties into a settlement or deal. The process of negotiation is not in
8 pages (2000 words) Essay
Common law
ties arising out of breach of such duties or torts and the rights of persons suffering from such torts or being injured or suffering damages as a result of various sorts of tort. Courts have awarded damages to the injured and have also issued injunctions to prevent further
8 pages (2000 words) Essay
Get a custom paper written
by a pro under your requirements!
Win a special DISCOUNT!
Put in your e-mail and click the button with your lucky finger
Your email
YOUR PRIZE:
Apply my DISCOUNT
Comments (0)
Rate this paper:
Thank you! Your comment has been sent and will be posted after moderation