by Structured Settlement Watchdog
In reviewing an important article about the actionability of alleged improprieties by J.G. Wentworth when it came to "independent financial advice", the National Structured Settlements Trade Association titled an article "Selling a structured structure? Buyer Beware!" (emphasis added)
Under the doctrine of caveat emptor (translation "let the buyer beware"), a buyer cannot recover from a seller for defects in property that rendered the property unfit for ordinary purposes. The only exception was if the seller actively concealed latent defects or otherwise made material misrepresentations amounting to fraud.
Before I give NSSTA the needle, AGAIN, for poor wordsmithing, let me say that I am grateful for today's phone call from a former NSSTA board member and executive who said how appreciative that he was that there is a watchdog in the structured settlement industry.
I take exception to NSSTA's momentary "inability" to distinguish between caveat venditor and caveat emptor, the latin phrases for "seller beware" and "buyer beware". In an article apparently purportedly intended to protect the seller why would you say "buyer beware!" when you mean let the seller "beware"?
A Fitting tribute..?
"I can probably crack the game just as quickly straight up,
but there's no risk in this room. Now, some people might look down on Worm's mechanics, call it immoral. But as Canada Bill Jones said, "It's immoral to let a sucker keep his money."
Like they teach you in One-L…
caveat emptor, pal -Mike McDermott.
from Rounders, a 1998 movie, ironically about a young man
(played by Matt Damon) who is a reformed gambler who must
return to playing big stakes poker to help a friend pay off loan
sharks.
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