This chapter argues that there is a moral asymmetry between lying and intentionally misleading. In particular, it is argued that ethical rules against asserting what one believes to be false with the intention to deceive the listener should be stronger than rules against asserting what one believes to be true with the intention that, as a result, the hearer infers, and comes to believe, something one believes to be false. In the latter case the speaker chooses to mislead, rather than to outright lie, and thereby takes on an additional cognitive burden in generating her utterance. This makes it possible to see the choice to avoid lying by merely misleading as an expression of an intention to respect a norm of truthfulness, as well as the hearer’s interests.