The correct answer is C) caveat emptor.
The legal phrase used to describe the state of litigation priorities surrounding marketplace transactions that emphasize the responsibility of the buyer to recognize that a product is purchased "as is" and may have defects is caveat emptor.
The Latin word caveat emptor means let the buyer be aware. It is a legal term used to make the buyer understand that the product is sold as it is. This means that the buyer of the product assumes the risk if it fails to meet its expectations, and the vendor does not have any further obligation.
The other options of the question were A) caveat canem, B) caveat venditor, and D) caveat spelunker.
