Read through the below post and provide any on of the following: APA format 250 Words.
.Ask a probing question, substantiated with additional background information, evidence or research.
· Share an insight from having read your colleagues’ postings, synthesizing the information to provide new perspectives.
· Offer and support an alternative perspective using readings from the classroom or from your own research.
· Validate an idea with your own experience and additional research.
· Make a suggestion based on additional evidence drawn from readings or after synthesizing multiple postings.
The old expression, caveat emptor (let the buyer beware) applies to those who are buying for business. The law assumes that business people are, or should be more cautious, or more experienced when conducting transactions for the business. The law affects buyers and sellers in many ways. For example, products purchased by a business buyer may be used within the organization or by consumers who purchase end products that contain the components bought by the business buyer. It is therefore important to know the type of product purchases that may injure consumers if they are hazardous or defective. The business can be sued for any cost to remedy problems in addition to compensation for pain and suffering. Here are few of the products that should be purchased with care. Hazardous material including drugs, cleaning supplies, and chemicals. Metal or plastic components with sharp edges. Components that may cause injury if they break or fail. For example, a defective bolt used in a lawn mower (Behrman, 1994). This principle is based on the understanding that buyers have an opportunity to inspect the item, to have it inspected by a qualified professional, and to research its history before making a decision to buy. This is true for everything from buying a home, to buying a car or buying a stamp collection. If the buyer, whether he takes advantage of this opportunity or not, chooses to buy the item, he cannot blame the seller for any deficiencies he may later discover.
For example, a consumer who purchases a coffee grinder that lacks the power to grind coffee beans may return the product for a full refund under an implied warranty of merchantability. But if the same buyer purchased a used coffee grinder at a thrift shop marked “sold as is,” returning the product later may prove difficult. While caveat emptor is no longer the rule for consumer transactions, it’s important to know when the exception applies.
Behrman, J. R., & Rosenzweig, M. R. (1994). Caveat emptor: cross-country data on education and the labor force. Journal of Development Economics, 44(1), 147-171.
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