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​during the first quarter of the 20th century, consumers were responsible for any losses they suffered due to a defective product they purchased. this is because the doctrine of ___ was applied in business transactions.

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Erudite1
This is because of the doctrine of CAVEAT EMPTOR was applied in business transaction.
Caveat emptor is the principle that the consumer alone is the one responsible for checking the quality  and the suitability of goods before a purchase is made.

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