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A History Of Cutoff Rules as a Form of Caveat Emptor: Part I—The 1980 U.N. Convention on the International Sale of Goods

A History Of Cutoff Rules as a Form of Caveat Emptor: Part I—The 1980 U.N. Convention on the... JOH N C. REITZ A Histor y Of Cutoff Rules as a For m of Caveat Emptor: Par t I—Th e 1980 U.N . Conventio n o n th e Internationa l Sale of Goods "Qui vend le pot, dit le mot." French Proverb INTRODUCTION Caveat emptor is a venerable rule of sales law. It appears that both the early Roman law and the early Germanic law permitted th e buyer to be parted from his money for substandard goods with no more protection than whatever inspection and express contrac­ tual guarantees th e buyer had the foresight to insist upon. The de­ velopment of the warranty of quality, especially the implied warranty of quality, may be viewed as a movement toward a signifi­ cant measure of protection for the unwary buyer that corrects the worst excesses of caveat emptor by holding th e seller, in th e absence of explicit agreement, to quality standards matching the expecta­ tions buyers in th e particular market reasonably have in light of the seller's behavior and the context of the transaction. Like the rules JOHN C. REITZ is Professor, University of Iowa College of Law. The second part of this article http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png American Journal of Comparative Law Oxford University Press

A History Of Cutoff Rules as a Form of Caveat Emptor: Part I—The 1980 U.N. Convention on the International Sale of Goods

Reitz, John C.
American Journal of Comparative Law , Volume 36 (3) – Jul 1, 1988
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Publisher
Oxford University Press
Copyright
© 1987 by The American Association for the Comparative Study of Law, Inc.
ISSN
0002-919X
eISSN
2326-9197
DOI
10.2307/840343
Publisher site
See Article on Publisher Site

Abstract

JOH N C. REITZ A Histor y Of Cutoff Rules as a For m of Caveat Emptor: Par t I—Th e 1980 U.N . Conventio n o n th e Internationa l Sale of Goods "Qui vend le pot, dit le mot." French Proverb INTRODUCTION Caveat emptor is a venerable rule of sales law. It appears that both the early Roman law and the early Germanic law permitted th e buyer to be parted from his money for substandard goods with no more protection than whatever inspection and express contrac­ tual guarantees th e buyer had the foresight to insist upon. The de­ velopment of the warranty of quality, especially the implied warranty of quality, may be viewed as a movement toward a signifi­ cant measure of protection for the unwary buyer that corrects the worst excesses of caveat emptor by holding th e seller, in th e absence of explicit agreement, to quality standards matching the expecta­ tions buyers in th e particular market reasonably have in light of the seller's behavior and the context of the transaction. Like the rules JOHN C. REITZ is Professor, University of Iowa College of Law. The second part of this article

Journal

American Journal of Comparative Law – Oxford University Press

Published: Jul 1, 1988

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