Sources:
(3) Silver-Greenberg, J., & Gebeloff, R. (2015, November 1). Arbitration Everywhere, Stacking Deck of Justice. The New York Times. Retrieved October 30, 2016, from http://www.lexisnexis.com/lnacui2api/api/version1/getDocCui?oc=00240&hnsd=f&hgn=t&lni=5H8R-MRG1-JBG3-608D&hns=t&perma=true&hv=t&hl=t&csi=237924&secondRedirectIndicator=true.
Summary:
This article is written by Jessica Silver-Greenberg and Robert Gebeloff, who are both reporters for The New York Times. It is argued that credit card contracts that include arbitration clauses prevent customers from joining together in class-action lawsuits, disabling them from challenging the company’s practices. Because many Wall Street corporations in effect have banned class-action lawsuits, with the aid of Alan S. Kaplinsky, many customers have dropped cases against them, since the cost of arbitration would exceed the monetary award, even …show more content…
TEPCO as a company needs to be concerned with these issues if they wish to protect their reputation as a company that is ethnically and socially responsible. Including an arbitration agreement that is not clear to customers, TEPCO could be seen as having little regard for customers and their comprehension of the loss of their constitutional right to trial and class-action lawsuits. The data from the survey the author conducted proves that many consumers do not understand traditional arbitration clauses, with as much as 50% believing the opposite of what it states. The only way to run TEPCO so it maintains its reputation and customer base, is to either create an arbitration clause that can be comprehended by most customers or not include it in its new
(3) Silver-Greenberg, J., & Gebeloff, R. (2015, November 1). Arbitration Everywhere, Stacking Deck of Justice. The New York Times. Retrieved October 30, 2016, from http://www.lexisnexis.com/lnacui2api/api/version1/getDocCui?oc=00240&hnsd=f&hgn=t&lni=5H8R-MRG1-JBG3-608D&hns=t&perma=true&hv=t&hl=t&csi=237924&secondRedirectIndicator=true.
Summary:
This article is written by Jessica Silver-Greenberg and Robert Gebeloff, who are both reporters for The New York Times. It is argued that credit card contracts that include arbitration clauses prevent customers from joining together in class-action lawsuits, disabling them from challenging the company’s practices. Because many Wall Street corporations in effect have banned class-action lawsuits, with the aid of Alan S. Kaplinsky, many customers have dropped cases against them, since the cost of arbitration would exceed the monetary award, even …show more content…
TEPCO as a company needs to be concerned with these issues if they wish to protect their reputation as a company that is ethnically and socially responsible. Including an arbitration agreement that is not clear to customers, TEPCO could be seen as having little regard for customers and their comprehension of the loss of their constitutional right to trial and class-action lawsuits. The data from the survey the author conducted proves that many consumers do not understand traditional arbitration clauses, with as much as 50% believing the opposite of what it states. The only way to run TEPCO so it maintains its reputation and customer base, is to either create an arbitration clause that can be comprehended by most customers or not include it in its new