Results 1 to 6 of 6
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12-22-2015, 12:33 PM #1
Are you putting these in your contracts? If not, you should!
Interesting read about mandatory arbitration clauses and ways to avoid costly lawsuits, including class actions.
http://www.nytimes.com/2015/11/01/bu...f-justice.html
http://www.nytimes.com/2015/11/02/bu...ce-system.html
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12-22-2015, 12:35 PM #2
This is old, but there are also rumblings in Congress to put an end to arbitration clauses because it denies the constitutional right to due process
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12-22-2015, 12:50 PM #3
Yes but supreme court already ruled that it is constitutional, only way to overturn it is with a Constitutional Amendment....which is as likely as my merchant with 5 positions and not a single positive balance getting approved by On Deck.
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12-22-2015, 12:52 PM #4
Until (alas, like so many other policies) people take it too far, and Congress is left with no choice but to change policy
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12-22-2015, 12:55 PM #5
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12-22-2015, 01:08 PM #6
"More than a decade in the making, the move to block class actions was engineered by a Wall Street-led coalition of credit card companies and retailers, according to interviews with coalition members and court records. Strategizing from law offices on Park Avenue and in Washington, members of the group came up with a plan to insulate themselves from the costly lawsuits. Their work culminated in two Supreme Court rulings, in 2011 and 2013, that enshrined the use of class-action bans in contracts. The decisions drew little attention outside legal circles, even though they upended decades of jurisprudence put in place to protect consumers and employees. One of the players behind the scenes, The Times found, was John G. Roberts Jr., who as a private lawyer representing Discover Bank unsuccessfully petitioned the Supreme Court to hear a case involving class-action bans. By the time the Supreme Court handed down its favorable decisions, he was the chief justice."
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