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Trump runs for POTUS / Trumped Up! Part V

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Darat said:
Actually the arbitration stipulation isn't a bad concept, it can often be quicker and simpler than having to go through the courts. Most business contracts I've been involved with stipulate that disputes go through arbitration.

Certainly many of the restrictions wouldn't stand in the UK given our rights and statutory rights, I assume the same would be true in the USA? To me it reads as if it is meant to be intimidating sounding?
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Wrong. Arbitration in the U.S. gives a lot of power to corporations, starting with choosing the arbitrator and the location of the meetings. The core is that you are waiving your rights to legal action as a condition of receiving the product or service. Credit card and cable companies are notorious for selecting places across the country from the complainant. They also often prohibit class actions, so individuals with small claims can't band together.
http://www.nytimes.com/2015/11/01/b...ywhere-stacking-the-deck-of-justice.html?_r=0
 
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Bob001 said:
Wrong. Arbitration in the U.S. gives a lot of power to corporations, starting with choosing the arbitrator and the location of the meetings. The core is that you are waiving your rights to legal action as a condition of receiving the product or service. Credit card and cable companies are notorious for selecting places across the country from the complainant. They also often prohibit class actions, so individuals with small claims can't band together.
http://www.nytimes.com/2015/11/01/b...ywhere-stacking-the-deck-of-justice.html?_r=0
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Arbitration in these circumstances is legal action.
 
Darat said:
How can you waive your rights via a private contract?
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Simple. By signing them away. Obviously, you can't be incriminated by breaking the contract but you can be severely penalized financially.
 
Darat said:
Arbitration in these circumstances is legal action.
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Actually, it is a substitute for legal action. The parties agree to arbitration instead of filing suit. The arbitrator is a private person paid by one or both parties, not a government official. He doesn't exercise legal authority. If someone chooses not to honor the terms of the arbitration agreement, the other side can sue to enforce it. But the arbitrator can't fine them or issue a warrant for anybody's arrest or lock them up for contempt of court.
https://www.nolo.com/legal-encyclopedia/arbitration-pros-cons-29807.html
https://www.adr.org/aaa/faces/servi..._afrWindowMode=0&_adf.ctrl-state=113klsbhdc_4
 
Bob001 said:
Actually, it is a substitute for legal action. The parties agree to arbitration instead of filing suit. The arbitrator is a private person paid by one or both parties, not a government official. He doesn't exercise legal authority. If someone chooses not to honor the terms of the arbitration agreement, the other side can sue to enforce it. But the arbitrator can't fine them or issue a warrant for anybody's arrest or lock them up for contempt of court.
https://www.nolo.com/legal-encyclopedia/arbitration-pros-cons-29807.html
https://www.adr.org/aaa/faces/servi..._afrWindowMode=0&_adf.ctrl-state=113klsbhdc_4
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Another time I wish we had *Like* buttons here.
 
acbytesla said:
Simple. By signing them away. Obviously, you can't be incriminated by breaking the contract but you can be severely penalized financially.
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Not all contract language is legal. So by law, you cannot sign away certain rights whether you sign or not.
 
Dog Town said:
Where does this come from? Forbes seems to think he is. Four and a half times over!
http://www.forbes.com/profile/donald-trump/
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Bloomberg says thats too high.
The NYT reports that he has massive debts
http://mobile.nytimes.com/2016/08/21/us/politics/donald-trump-debt.html
His entire empire is opaque
http://www.politico.com/story/2016/05/donald-trump-money-net-worth-223662

In short, we only know what Trump says about Trump's wealth. We also know that US banks will no longer lend to him.

In the documentary Born Rich, Ivanka Trump tells how her father once pointed to a homeless man and said he had “$8 billion more than me” due to Trump’s debt.

Without tax returns we can not know.
 
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