§ 1050. The question which comes naturally next in order, after the contract of sale is completed, and the goods are reduced to the possession of the vendee, is, whether the goods are of the quality and nature which the vendee intended to buy. This leads us to the consideration of express and implied warranties. The general rule of law, applicable to all sales, is, that the buyer buys at his own risk; caveat emptor; unless the vendor give an express warranty, or unless the law imply a warranty from the nature of the thing sold and the circumstances of the sale, or unless the vendor have been guilty of a fraudulent representation or concealment in regard to the things sold.1 These exceptions we shall consider consecutively.