Saturday, September 15, 2012

Euvoluntary Exchange: Caveat Venditor?

If the owner of a painting says he has a Renoir for sale, and charges $50,000, and it turns out to be a Munger paint-by-number painting, that would be fraud.  It would violate condition #3, no regret.

But what about if the seller is unaware that a painting is a Renoir, and the buyer does know?  Something like this, in other words.

Would SELLER regret make an exchange non-euvoluntary, in other words?

I think the answer is "yes," but that doesn't mean it should be legally actionable.  Caveat venditor is a reasonable policy.


No comments:

Post a Comment

Do you have suggestions on where we could find more examples of this phenomenon?