You are in the market for a new-to-you car. There is one in particular that you are interested in that is for sale by a friend of a friend. You have driven it and had it checked out by a friend of the family who is a mechanic. Based on your research you have determined the car is worth $8,000 and you are prepared to pay that much to get the car. The day before you planned to close the deal you heard through the grapevine that the seller has some unexpected legal problems that could land him in jail if he doesn’t come up with $6,000 to pay the fines very soon. This news has you wondering if you could get the car for even less than you were willing to pay
1. How might you use the information about the seller’s legal problems? 2. What could you gain by using the information? 3. What could you lose by using the information? 4. Is it ethical to use the information about the seller’s legal problems to get the car for less than you determined to be a fair market price?
