If you want to confuse someone’s ethical compass, ask them about lies of omission. Is it wrong to not disclose everything?
It’s pretty obvious that you’re supposed to let people know about information that is relevant. If you’re selling the family car, you ought to mention that the transmission is sticking rather than let the buyer figure it out.
But what if the buyer is a dealership and they will have a mechanic look at the car? Are you still ethically obligated to list all the known problems, or should you let the real expert make his or her own list?
What about the one time you weren’t paying attention and accidentally put about a 1/4 gallon of diesel fuel into the tank? Sure, you let it evaporate off, but are you required to list this boneheaded mistake years later?
We will fail to disclose everything in a business transaction. The secret lies in keeping just the right amount of information from the buyer. That might sound backward, but nobody really needs to know everything. You have to make a judgement call about what you would want to know, and be truthful in the areas that are relevant.
Still, you have failed to tell the whole truth. Learn more in the book!