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  1. #1
    Senior Member Reputation points: 5034 AlexSMF's Avatar
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    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

  2. #2
    Veteran Reputation points: 134971 Chambo's Avatar
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    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

  3. #3
    Senior Member Reputation points: 5034 AlexSMF's Avatar
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    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.

  4. #4
    Veteran Reputation points: 134971 Chambo's Avatar
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    Until (alas, like so many other policies) people take it too far, and Congress is left with no choice but to change policy

  5. #5
    Senior Member Reputation points: 5034 AlexSMF's Avatar
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    Quote Originally Posted by Chambo View Post
    Until (alas, like so many other policies) people take it too far, and Congress is left with no choice but to change policy
    Congress cant pass a statute that counters what the supreme court already ruled is constitutional. The only way for congress to override the supreme court is by a constitutional amendment...in other words, not happening.

  6. #6
    Senior Member Reputation points: 5034 AlexSMF's Avatar
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    "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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