Honesty and ethics in business transactions

Going back on your word in a sale or gift

De: Rabbi Yaakov Goldstein

Narrado por: Virtual Voice

This booklet contains an essay on the subject of Business ethics. When one agrees to go through with a sale or gift, is he required to do so whether legally or ethically? At one point is a sale or other type of business transaction considered final by which one can no longer legally retract from it. Even prior to reaching this point, is it considered unethical for one to retract from an agreement to go through with a sale or gift? In this Halacha we will review the technical laws of acquisitions which make a sale considered final according to Halacha, and therefore make it illegal to retract from it, as well as the subject of honesty and ethics. When one agrees to a sale, aside from the question of whether retracting from it is considered legal, a more fundamental question is raised, regarding whether it’s considered honest. We will learn of the concepts of Kinyan, the curse of Mi Shepara, and the title of Michsurei Emuna which is given to a person who does not keep his word in business or retracts from a sale or transaction. Based on this, we will review four different levels of business misconduct, and finally tackle a number of practical cases such as retracting from giving a gift, or giving a loan, or appointing someone as a Sandek or Mohel.