The document discusses the doctrine of caveat emptor, or "let the buyer beware." It states that under this doctrine, there is no implied warranty on the quality or fitness of goods unless exceptions apply. The exceptions include misrepresentation by the seller, concealment of latent defects, sale by description or sample that does not match, and goods intended for a particular purpose or required to have merchantable quality. While caveat emptor was important historically, its rigors have been mitigated by modern legislation, competition, and consumer awareness. The relevance of caveat emptor has declined and should be replaced by "caveat vendor," or let the seller beware.