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Overcharging: Difference between revisions
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# There is a Torah prohibition to overcharge (as a seller) or underpay (as a buyer) when the other party is unaware of the market value for such an item.<ref> Vayikra 25:14 states “וכי תמכרו ממכר לעמיתך או קנה מיד עמיתך אל תונו איש את אחיו” “And when you make a sale to your fellow Jew or make a purchase from the hand of your fellow Jew, you shall not wrong one another.” The Rambam in Sefer Hamitzvot Lo Taaseh 250 as well as in Mishne Torah (Mechira 12:1) considers it to be one of the 613 mitzvot. This is also the opinion of the Sefer HaChinuch (Mitzvah 337). The Mishna Bava Metsia 51a says that this prohibition applies both to the buyer or seller. The general prohibition of onaa | # There is a Torah prohibition to overcharge (as a seller) or underpay (as a buyer) when the other party is unaware of the market value for such an item.<ref> Vayikra 25:14 states “וכי תמכרו ממכר לעמיתך או קנה מיד עמיתך אל תונו איש את אחיו” “And when you make a sale to your fellow Jew or make a purchase from the hand of your fellow Jew, you shall not wrong one another.” The Rambam in Sefer Hamitzvot Lo Taaseh 250 as well as in Mishne Torah (Mechira 12:1) considers it to be one of the 613 mitzvot. This is also the opinion of the Sefer HaChinuch (Mitzvah 337). The Mishna Bava Metsia 51a says that this prohibition applies both to the buyer or seller. The general prohibition of onaa is codified by Shulchan Aruch C.M 227:1, Kitzur Shulchan Aruch 62:1, Halichot Bein Adam Lachavero 10:30, and Pitchei Choshen Geneva Vihonaa 10:1.</ref> This is split into three categories: | ||
</ref> This is split into three categories: | |||
# More than 16% above market price - this amount is considered onaa and the buyer can invalidate the sale. | # More than 16% above market price - this amount is considered onaa and the buyer can invalidate the sale. | ||
# Exactly 16% above market price - the sale is valid, but the extra money that the buyer paid must be returned. | # Exactly 16% above market price - the sale is valid, but the extra money that the buyer paid must be returned. | ||
