Honesty, the Only Policy

The Chavas Da’as, zt”l, was experienced in business from his youth. He knew all the tricks and equivocations people did, without any regard for the truth, often violating clear halachos for a small gain. It is no wonder that that in his long will he warned his children against such sharp business practices.
He wrote, “I also warn you, if you have some business to conduct with a person who you feel does not fully understand what he is getting himself into, you must explain to him all the details of the transaction before he obligates himself. You must not say to yourselves, ‘What difference does his lack of comprehension make to me if he is clearly willing to sign?’
“Such thoughts should not even enter your head since you can violate לא תונו with the greatest of ease. And even if technically you do not violate this prohibition, what about the often quoted, yet more often ignored verse: ואהבת לרעך כמוך?
“Instead of tricking someone into doing what he may not wish to do, act with honesty and integrity… Be very careful never to borrow more than money than you have since Hashem can help you earn a profit whether you have a large sum of money to invest or a small sum. Even if you see with your own eyes that your capital is so small that you cannot possibly make a profit, you should not borrow. Better to take a partner who invests his money and receives half all profits then to borrow money in the hopes of making it back.”