What do you understand by the term 'Caveat Emptor'? Enumerate its exceptions.

The term "caveat emptor" is a Latin word which means "let the buyer beware". This principle states that it is for the buyer to satisfy himself that the goods which he is purchasing are of the quality which he requires. If he buys goods for a particular purpose, he must satisfy himself that they are fit for that purpose. The doctrine of caveat emptor is embodied in Section 16 of the Sale of Goods Act, 1930 which states that "subject to the provisions of this Act and of any other law for the time being in force, there is no implied warranty or condition as to the quality or fitness for any particular purpose of goods supplied under a contract of sale". Exceptions: Section 16 lays down the following exceptions to the doctrine of Caveat Emptor: Where the seller makes a false representation and the buyer relies on it. When the seller actively conceals a defect in the goods which is not visible on a reasonable examination of the same. When the buyer, relying upon the skill and judgement of the seller, has expressly or impliedly communicated to him the purpose for which the goods are required. Where goods are bought by description from a seller who deals in goods of that description.