Binding Arbitration; Not Just Bad For Consumers, Bad for Small Business Owners too...

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If you've purchased a home, car, credit card, or cell phone contract over the past five or ten years, it's almost certain that the contract you signed included an agreement to settle any legal disputes through binding arbitration rather than in the courts.

This may sound like a good thing, but Mother Jones legal affairs reporter Stephanie Mencimer has written extensively on binding arbitration, which is cropping up in every part of our lives and is hopelessly stacked against the consumer.

In "Wake Up and Smell the Fine Print," Mencimer details the wrenching experience a Maryland couple went through because of the binding arbitration clause they signed when they set up a Coffee Beanery franchise.

Read the article in its entirety over at Mother Jones

For more info see earlier blogs on binding arbitration and my recent entry on the Sun-Sentinel Editorial Blog -South Florida Says: Binding Arbitration is No Substitute for Consumer Accountability 

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