Each year, the city sells the properties of owners who are delinquent on their taxes and utility fees at its in-rem auction. At these auctions there are often intense bidding wars. These bidding wars result in the sale price being driven way above what’s needed to cover the back taxes. Here’s the catch: The city is only entitled to keep the amount that is owed, but this rarely happens.
Millions of consumers in the United States alone have signed credit card, mobile phone, car rental and other agreements without realizing that they contain compulsory arbitration provisions. Little does the average consumer know that by signing these agreements, you are agreeing that if any law suit comes up, arbitration must be used in lieu of other legal remedies.