Laidlaw v. Organ
Laidlaw v. Organ, 15 U.S. (2 Wheat.) 178 (1817), is a case decided by the Supreme Court of the United States that established the rule that buyers need not disclose advantageous information to sellers. This rule should not be confused with either caveat emptor—a rule placing the burden of due diligence on the purchaser of goods—or caveat venditor—the rule that vendor sales come with an implied warranty.
| Laidlaw v. Organ | |
|---|---|
Supreme Court of the United States | |
| Decided March 15, 1817 | |
| Full case name | Peter Laidlaw and Company v. Hector M. Organ |
| Citations | 15 U.S. 178 (more) |
| Case history | |
| Prior | Error to the District Court for the Louisiana District |
| Holding | |
| A party is not obligated to disclose all of the information within its possession with regard to a certain transaction when the other party asks a general question about the party's awareness of issues that might affect the transaction's value. | |
| Court membership | |
| |
| Case opinion | |
| Majority | Marshall, joined by unanimous |
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