Question

This is more of a consumer protection piece more so than contracts per se. But cell phones, insurance, and mortgages have some very tricky fine print. There is an economist saying, 'there's no free lunch.' This is so true. When Verizon and AT&T offer a free phone with the 2 year contract, we may think we are getting a deal but when you think that you are paying $90 a month (or more) for 24 months, which equals nearly $2200, while getting a $400 phone, you have to wonder just whom is getting the deal. And the credit card companies and phone companies are just praying that you will have overages or late fees where they can gouge you to death. And if you try to fight it or complain you get no where but to a contractual arbitration clause and then you have to assess the worthiness of fighting a claim in attorney fees and missed work time. It's often easier to just pay the $60 (or whatever) to just be done with it and chalk it up to lessons learned the hard way.

Do you feel that these contracts are unconscionable and one-sided? Do they make you feel duped?

Answer 1

Solution :-

No I don't feel that these contracts are unconscionable and one sided because It has also a benefit to the other party of not paying the whole amount at once.

First of all you understand one thing that no shopkeeper has to pay from his pocket every shopkeeper takes or recover the amount with benefits from the customer. There is facility of mode of payment of amount given by the shopkeeper to his customer that is to say EMI method Which stands for equally monthly installments, In this method a amount is taken by the customer in some equal installment in place of payment of full amount at once. In the EMI method various costs such as finance charges and some insurance charges also included and this mode of payment is to be done with the help of credit cards so there is also some charges that are to be paid tn the credit card companies and also various costs and fines are to be paid if there is any delay in payments. Yes i think it is duped because the fines and panelties that are to be charged by the credit card companies in cas eof delay in payments is too high.