Caveat emptor
Latin for "let the buyer beware" — the legal principle that a buyer takes on the risk of a purchase, and it's largely up to them to investigate before buying, rather than relying on the seller to disclose every flaw. In investing, this is part of the reasoning behind securities disclosure laws (like mandatory SEC filings) — they exist specifically to shift some of that burden back onto sellers/issuers in markets where buyers can't realistically inspect the "product" themselves.