Underneath All Are the Contracts
Ralph Nader explains the problem with standard form contracts and introduces faircontracts.org.
Latest News
How Safe Are Your Savings?
John Wasik, award-winning author of 13 books and personal finance columnist for Reuters, has issued this report with Demos, titled How Safe Are Your Savings? How Complex Derivatives Products Imperil Seniors’ Retirement Savings. Fair Contracts Intern Dylan Hanson and Citizen Works contributed to the background research.Wasik writes:Few investors fully understand what they’ve been sold, or…
Article Discussing Proposed Solutions to Unilateral Modification Provisions
Article with proposed solution ("Change Approval Boards") for unilateral modification terms within contracts. Oren Bar-Gill and Kevin E. Davis, "Empty Promises" 84(1) Southern California LawReview 1-44 (2010). Here is the version on SSRN:http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1554966.
The Supreme Court Rules Against Consumers By Allowing Companies to Enforce Unconscionable Class Action Waivers in the Forced Arbitration Provisions of Fine Print Contracts
Today the Supreme Court ruled 5-4 in a closely-watched case that waivers of class action rights within arbitration provisions in company contracts are enforceable, even where a state deems those provisions to be unconscionable. The case involves two consumers, Vincent and Liza Concepcion, who bought cell phones that AT& T advertised as discounted (one phone…
Consumer Financial Protection Bureau Launches Website
The Consumer Financial Protection Bureau Now Has a Website On February 3, 2011, the Consumer Financial Protection Bureau (CFPB), still in formation, launched its website to begin a conversation with consumers. The Bureau’s opening film says it will "work to cut down on the fine print." On Friday, September 17, 2010, President Obama appointed Elizabeth…
Nisson Motor Acceptance Corp. “Signature Lease”
Contract:Nisson Motor Acceptance Corp. Signature Lease.pdf
Mercedes Benz Financial – “The First Class Lease”
Contract:Mercedes Benz Financial The First Class Lease.pdf
Lexus Financial Closed End Motor Vehicle Lease Agreement
Contract:Lexus Financial Closed End Motor Vehicle Lease Agmt.pdf
Will the Supreme Court Let Corporations Ban Consumer Class Actions in the Fine Print of Contracts Compelling Arbitration?
11.9.10 Will the Supreme Court Let Corporations Ban Consumer Class Actions in the Fine Print of Contracts Compelling Arbitration? Today the Supreme Court heard an extremely important contracts case to decide whether waivers of class actions within arbitration provisions in company contracts are enforceable. The case involves two consumers, Vincent and Liza Concepcion, who bought…
Fighting back against forced arbitration in securities agreements.
In this piece, finance writer John Wasik, explains how "wronged investors may still be stuck in a troubled system run by the brokerage industry" but how one investor — Hollywood’s Larry “JR Ewing” Hagman — fought back, and won. As Wasik explains: "When you sign any standard brokerage agreement, you are locked into their mandatory…