Just to Reterate what lawyer has been saying here, I have watched him for a long time, and he has represented the legal profession very well on nairaland, a good Ambassador I would say. Now to the topic.
The importance of caveat emptor is demonstrated by the decision of the supreme court in in Animashaun V Olojo, in that case, the land in dispute described as plot 27 formed part of the landed property owned by chief J.A Ajao which after his death formed part of his estate and vested in the executors of his will. The executors managed the plots of land and allocated and sold them to purchasers, in 1975, the executors sold the said plot 27 along with plot 28 to the respondent and collected the purchase price. In 1976, they also sold and conveyed the same plot of 27 to the appellant.the respondent obtained a conveyance for plot 28 but none for plot 27, he however moved into occupation of the two plots. The appellant on the other hand obtained a conveyance for plot 27 in 1976 when she purchased it, but could not enter occupation, because possession was already in the Respondent before she bought. Upon an action brought by the appellant for declartion of title to plot 27, it was held that she failed to prove that she was a bona fide purchaser of the legal estate without notice of prior equitable interest of the respondent. On the basis of that, if she had inspected the land at the time of the sale to her as a reasonable purchaser would do. She would have discovered not only that the respondent was in occupation, but alsoupon further enquiries, that her vendor had already sold the plot and collected the purchase price from the respondent.

Nice piece

Thanks man!