As used in English, what is the meaning of the Latin phrase "caveat emptor"?

As used in English, the Latin phrase "caveat emptor" means "Buyer Beware."

The expression literally means "let the buyer beware": caveat is a form of the Latin verb meaning "to beware," while emptor means "buyer." It became an English proverb and a legal principle warning purchasers to inspect goods or property carefully before completing a transaction.

The phrase is especially associated with situations in which the seller may know about defects that the buyer cannot easily detect. In modern consumer law, however, caveat emptor is not an absolute rule everywhere; warranties, disclosure requirements, fraud laws, and consumer-protection statutes can place duties on sellers.

A common mix-up is caveat lector, meaning "let the reader beware." Another related expression, caveat venditor, means "let the seller beware," reflecting legal systems that emphasize seller responsibility.