Was the agreement unconscionable

Assignment Help Financial Management

Reference no: EM131020367

Virginia Cicle had a credit card with Chase Bank USA. The original agreement had a binding arbitration clause and class action waiver. In 2005, Chase sent a new agreement, and Cicle was given the choice of closing her account, but she used the card again, which meant she agreed to the agreement. A dispute arose, and Cicle filed a class action suit. Chase sought to enforce the arbitration clause. The clause required her to pay for filing an arbitration action, but Chase would reimburse her for up to $500. She had to pay her own attorney’s fees. Cicle further alleged the agreement was unconscionable because Chase had superior bargaining power and the agreement was in fine print. Was the agreement unconscionable? Explain.

Reference no: EM131020367

Questions Cloud

What are important ethical qualities to look for in a boss : What's the impact of Rosie and Conor's decisions on Ms. Fitz, the customer? Is it best to be honest with customers, even if it shows your weakness? What are three important ethical qualities to look for in a boss

Advantages of using markov switching model : In a Markov Switching Model, what is the difference between increasing the number of regimes and increasing the order of the Markov chain? Which one will you choose to improve the forecasting performance of a first-order Markov switching model wit..

Could paula have avoided the situation in planning process : Should Paula have spoken up at the time of the decision to alter the results of the contest? Could Paula have avoided the situation in the planning process of the event? How or how not

Explain the difference between one-step ahead and filtered : Clearly explain the difference between one-step ahead, filtered, and smoothed regime probabilities. Is it correct to state that we should always use smoothed instead of filtered probabilities to identify phrases of business cycle? Why or Why not?

Was the agreement unconscionable : Virginia Cicle had a credit card with Chase Bank USA. The original agreement had a binding arbitration clause and class action waiver. Cicle further alleged the agreement was unconscionable because Chase had superior bargaining power and the agreemen..

Case - the effects of ethics policies: a positive story : Case: The Effects of Ethics Policies: A Positive Story. Mike was well established in his career in human resources when he went to work for a mid-size, IT company located in the Bay Area

Determine if the function is even odd or neither : Determine if the function is even, odd, or neither. Compare the graph of the given quadratic function f with the graph of y = x2.

Is it ethically forbidden to go out of the sales chain : Does Ilene have the obligation to push for broader changes within the system, rather than only changing her own job responsibilities to align with her personal ethics? Is it ethically forbidden to go out of the sales chain

Define gail ethical dilemma : "This was just how the business operated, so I didn't say anything," said Gail. "It was just part of the culture." . Define Gail's ethical dilemma. Is the radio station's policy with product giveaways ethically acceptable

User Account

All Pages