Arbitration agreement: written contract or open account?
Date: Wed, 10/18/2006 - 20:11
Question on Arbitration:
Is an arbitration agreement considered a written contract? Credit cards are typically seen as open accounts, but federal law on arbitration agreements seem to equate these with written contracts.
Any opinions on this?
Is an arbitration agreement considered a written contract? Credit cards are typically seen as open accounts, but federal law on arbitration agreements seem to equate these with written contracts.
Any opinions on this?
A lawyer can advice you the best on this issue. What I think is
A lawyer can advice you the best on this issue. What I think is that any type of arbitration under the contract must be settled through arbitrator rather than through court litigation. The company that will conduct the arbitration, the city where it will be held and the method used for selecting arbitrators will be fixed in the clause.
Arbitration Agreements
Binding arbitration agreements can be challenged. They usually take the form of a clause within a cardholder agreement. However, they can be challenged in state court during the proceeding and after.
