Re: FREE MARKET: What about liability?

J. Maxwell Legg (
Mon, 07 Sep 1998 18:17:29 +1200

my inner geek wrote:

> Question:
> Assuming a libertarian online marketplace, governed by the
> hippocratic oath (,
> what is the best structure for handling liability?

Caveat Vendor (seller beware)

Special concern for accountability is appropriate when the user of a service is at a
significant disadvantage in relation to the provider, as may be the case with complex
'uploading' services. In such cases the rule tends, properly, to be caveat vendor
(seller beware). The vendor is liable for harm or fraud which the disadvantaged
consumer was not in a position to understand or avert. Thus 'uploading' products
and services should be subject to extensive environmental, humanitarian, and
ethical review by which the vendor establishes that he has shown due regard for
the consumer's interest and is not negligent.