tvoivozhd---well, not really. You do not know what they will do to you
because it is a unilateral contract---something that should be outlawed
in any responsible society.
Or looking at it another way, something no prudent person would enter into.
2) Knowing that this is the nature of the beast, don't enter into any
agreements with them. We have a couple of actual local banks here, I know
everyone hasn't. I don't use credit but shady deals would get around and
ruin the bank so by all accounts they don't engage in them.
I'll stand corrected on this if needs be, Tvo, but my understanding is that
the current situation is like this: States can set regulations making
certain types of contracts illegal even if both parties enter into them with
full knowledge and consent. For example, a loan contract with a minor
cannot be enforced. In most states if an employer gets you to sign an
agreement that you will not testify against them in court, it is not binding
and cannot be enforced.
Giving the states the right to quell this is a good idea, and no mistake.
.
The unilateral contract and contract law in general has been
under State jurisdiction. It should remain there and would except for
the fact Bush got $25,000,000 in bribes this year from MBNA, Chase
Manhattan and the other members of the Credit Card Mafia.
You know how, Tvo, you are fond of saying that we don't live in the past and
the tools and situations we have in 2004 are what we have and we must make
wise use of them (to that effect)?? Credit cards USED TO be a legitimate
contract. They aren't any more, they are a blatant scam. No one in their
right mind would look over the provisions that they DO state and ever sign
the thing.
Would you not say it is so that if the credit card industry were tightly
regulated, all the fraud and usury squeezed out of it, that a good portion
of the people decrying how badly they are ripped off by same would find that
they couldn't get a credit card at all?
James
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