Sunday, June 14, 2009

Bava Metzia 50 - Both the Seller and the Buyer Can't Cheat (Finds)

Price fraud – overcharging by the seller or underpaying by the buyer – is prohibited. The law in any particular case depends on three factors: the amount of the fraud, the time that elapses between the transaction, and the time the defrauded party protests.

If the amount of price fraud is a discrepancy of less than 1/6, the sale stands, and all claims are immediately waived. If the amount is precisely 1/6, the buyer can demand a refund. If the amount is more than one-sixth, either party can void the sale.

The defrauded party has as much time as it takes to show the purchase to a merchant or his relative for assessment.

Art: Mental Math by Bogdanov-Belskiy

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