caveat emptor

caveat: may he/she beware. emptor: buyer. caveat emptor is Latin for “Let the buyer beware”. Generally, caveat emptor is the contract law principle that controls the sale of real property after the date of closing, but may also apply to sales of other goods.

The phrase caveat emptor and its use as a disclaimer of warranties arises from the fact that buyers typically have less information than the seller about the good or service they are purchasing. This quality of the situation is known as information asymmetry. Defects in the good or service may be hidden from the buyer, and only known to the seller.

caveat emptor is a short form of Caveat emptor, quia ignorare non debuit quod jus alienum emit: “Let a purchaser beware, for he ought not to be ignorant of the nature of the property which he is buying from another party.” 

A common way that information asymmetry between seller and buyer has been addressed is through a legally binding warranty, such as a guarantee of satisfaction.

caveat emptor

The Americans have a Latin term caveat emptor. It means “Let the buyer beware.” When persuading, presenting, convincing, selling Americans present the positive picture: what works. Americans do not feel obligated to present or to reveal what doesn’t work, what is negative. In the U.S. business culture the audience is obligated to expose what doesn’t work by asking critical questions. Persuasive is selling what works, and not what doesn’t work.

Universities – Career Development

Career Development offices at American universities advise on personal branding tactics in order to improve the career prospects of undergraduate, graduate and doctoral students. Yale University, for example, helps students understand how best to use LinkedIn in order to network with contacts and employers.

When uploading a photo, students are advised: “To be mindful of the image you want to project. Be sure that it is appropriate for the audience who will be viewing it.”

The office also recommends that students join Ivy League groups and alumni networks to take advantage of connections with other elite universities. Further, Yale students are advised “to connect with those with whom you share common interests.“

obligation to inform

The Germans have a legal term called Auskunftspflicht. Auskunft means information. Pflicht means obligation. Auskunftspflicht: the obligation to inform. When Germans persuade, convince, present, sell, the consciously Germans present the full picture: what works and what doesn’t work. Anything less is unprofessional, dishonest, and most certainly not persuasive.

Show ‘n Tell

As children Americans learn at an early age to be on – or to be put onto – center stage. As early as Kindergarten, in Show and Tell, they are asked to bring something personal into school: a toy, a stuffed animal, one of their favorite books. They stand before their peers and present.

They practice not only speaking in front of a group – the first experience with public speaking – they learn how to speak about themselves and their feelings. And when they do, they seek from the other children attention, positive feedback, ultimately approval. They are in presentation mode.

It is the same with letter-writing. American children are taught not only to feel free to begin sentences with I. They are encouraged to write in the active, not passive, form. They should write from their individual, personal perspective. Letters are per definition a personal and consciously subjective form of communication.

“Sell me this pen”

At some point during the life of every American they hear the figure of speech: “You sell yourself first, then your product or service.” The presenter needs initially to get the audience to accept them as interesting, motivated, experienced, as a person with expertise, worth listening to.

This is Leonardo DiCaprio in the 2013 Martin Scorsese-film Wolf of Wall Street.

It is the initial hurdle the presenter needs to overcome, the first yes to be gained. The audience needs to be convinced of the messenger before being convinced by the message. Otherwise audiences ask themselves “If the presenter isn’t convinced of himself, why should I be convinced?”

In amazon.com there are 226 results when searching for “sell yourself first.” On YouTube 37,900 videos are found. The bookstore chain Barnes and Nobles sells 24 books related to “sell yourself first” with titles such as: 

Invisible to Remarkable: In Today’s Job Market, You Need to Sell Yourself as ‘Talent’, Not Just Someone Looking for Work…, Good in a Room: How to Sell Yourself (and Your Ideas) and Win Over Any Audience…, or  The One Minute Sales Person: The Quickest Way to Sell People on Yourself, Your Services, Products, or Ideas—at Work and in Life.

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