Examlex
A good that is excludable is one that someone can be prevented from using if she did not pay for it.
Caveat Emptor
A Latin phrase meaning "let the buyer beware," which suggests that the buyer is responsible for checking the quality and suitability of goods before a purchase is made.
Legal Concept
Fundamental principles that are recognized and enforced by the legal system to regulate conduct.
American Business Culture
A set of norms, values, and practices that characterize the conduct of business in the United States, including communication styles, work ethics, and corporate governance.
Caveat Emptor
A legal principle meaning "let the buyer beware," indicating that the buyer assumes the risk about the quality and condition of the product.
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