Philosophy 2074F/G Study Guide - Equal Protection Clause
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12 Apr 2012
School
Department
Course
Professor
Information Disclosure in Sales 4/12/2012 2:09:00 PM
The Five Point Information Responsibility Scale
Minimal Information Rule – all responsibility for information lies
with the buyer
o The salesperson must play the role of an advocate of the
product which affects how much information they will reveal
o Buyers often have no choice but to rely on the information
given to them buy sellers They can only voluntarily consent to
the limits of their knowledge
o It seems unethical for sellers to enter into certain
arrangements that take advantage of buyer ignorance
o Buyers are especially concerned about safety issues because
no person would refuse to care about their own safety
Modified Minimal Information Rule – information lies with the buyer
but the salesperson must provide safety information
Fairness Rule – in addition to safety, the seller must provide any
information needed to make a reasonable judgment about whether
to purchase the product which the buyer could not be expected to
know unless informed by the seller
o This rule seems to give all parties equal protection where
everyone has a chance to protect his or her interests.
o Enacting this rule requires that a salesperson treat individual
customers differently
o Customers with greater knowledge don’t need the same kind
of information provided to them as other customers
Mutual Benefit Rule – the salesperson must provide the buyer with
all information about the product that the buyer would need to
know in order to make a reasonable decision about buying the
product
o In situations where a consumer is experienced this rule acts
as the Fairness Rule
o In other circumstances, it requires the salesperson to provide
information that matches the concerns of the customer
o This rule requires that the seller reveal information about the
product that could significantly lower the value of the product