Caveat Venditor: It's Seller Beware When Contracting With State


Caveat emptor, the age-old Latin maxim that places the burden on the buyer to inspect the desired goods before making a purchase, is certainly sage advice. Even in this age of consumer protection laws, the buyer is well advised to do some investigating before entering into a binding agreement. The enactment of §112 of the New York State Finance Law has added a modern-day twist to the buyer-seller relationship, placing the onus on the seller to do some investigating of its own when the buyer is New York state.

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