Consumer Contracts Posts
CFPB Issues Rule Against Mandatory Arbitration
The Consumer Financial Protection Bureau has issued a final rule “governing the use of pre-dispute arbitration agreements by providers of consumer financial products and services.”
Adoption of Standard Contract Terms
This post is a presentation of information found in the Discussion Draft of the Consumer Contracts project. This will be presented at the 2017 Annual Meeting for discussion only.
Project Feature: Consumer Contracts
Reporter Omri Ben-Shahar discusses the scope of the project and the asymmetry in information, sophistication, and stakes between the parties to these contracts that the Restatement must consider.
Third Circuit Rules Samsung Cannot Compel Arbitration
In Noble v. Samsung Electronics America, Inc., the plaintiff, after purchasing a smartwatch that advertised “24 to 48 hours with typical use,” found that the device’s batter only lasted for a few hours. When he determined that other customers were experiencing the same issue, he filed a class action complaint in federal court. Samsung then sought to compel arbitration based on a clause in the “Health and Safety and Warranty Guide,” which is included in every box when purchased.