The consumer protection act 2019 replace the old act of 1986 and the objective of the act changed to protecting the interests of the consumer and providing a speedy as well as effective redressal in case of complaints.
Caveat Emptor which means let the buyer beware is basically the principle applied in order to resolve the dispute related to goods and services. According to this principle, the seller is not liable for any product which is damaged or defective and implies that the buyer should use his knowledge in order to make a careful purchase. The liability was placed upon the consumers and thus became a tool for misuse used by the sellers.
Caveat venditor means let the seller beware which imposes a greater responsibility on the sellers. This principle was formed after different cases through judicial discourse which helped the courts realize that the principle of Caveat Emptor is inconsistent with the law of equity. There is an implied warranty existing for each product and it is not the duty of the buyer to diligently check the quality of the products but the responsibility of the seller to ensure that the buyer is reasonably informed about the products and is compensated for the defective products.
The new Consumer Protection Act helped in the transition from Caveat Emptor to Caveat Venditor. The act prioritizes the rights of consumers but at the same time seeks to empower them. The consumers have the right to complain and receive compensation for not only defective goods and services but also for the harm caused due to do we protect. False and misleading advertisements can also be punished. Redressal commission would be held if a complaint is received and compensation would be provided to the consumers. Thus the obligations on the sellers and manufacturers have to be fulfilled in order to avoid complaints which would result in the gathering of the Dispute Redressal Commission. The framework of the law is advantageous to the consumers as they have the opportunity to file complaints from where they reside. It can also be done electronically and the provisions of the act provide flexibility to the consumer. Anyone or any consumer association can file a complaint on behalf of the consumer if the consumer does not have the provision to do so.
We can hence come to the conclusion that the new act brought a lot of changes with an intention to protect the consumers and ensure that when does a being aware and improving the services and the quality of goods and avoiding fraudulent practices. We can see that the concept of Caveat emptor is slowly diminishing and Caveat venditor is rising and giving importance to.