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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Caveat Emptor

Latin, meaning 'let the buyer beware'.

The buyer is responsible for ensuring that what they are acquiring under a Contract is really what they want.

An error of judgement by the buyer in this regard is not grounds for making the contract Void.

Example: The sale of a Mortgage Loan hereunder is not caveat emptor, it being understood that Buyer is expressly relying on the representations made by Seller...