Emptor

“The point at issue seems to be now a mere difference of opinion as to the definition of the word ‘payment’ between the vendor and emptor.[…]”

Nolte […] is of the following opinion: As a rule, the emptor cannot waive his claim for delivery of documents and demand delivery of the discharged goods […]

This was treacherous territory for both the emptor and the vendor, made even riskier by the sheer size of the market.