Philosophy 2074F/G Study Guide - Equal Protection Clause

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12 Apr 2012
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
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
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