Plus500AU Pty Ltd v AghaeiRad
The Full Court held that the arbitration clause in a CFD trading platform's standard-form user agreement was void as an unfair contract term, so the class action stays in court rather than going to arbitration. It matters to anyone relying on arbitration or dispute-resolution clauses in consumer-facing standard form contracts.
What it means for business
Consider reviewing standard-form terms for arbitration, class-action waiver and venue clauses that could now be attacked as unfair.
What does this mean for your business?
If this development touches your contracts, compliance or reporting, it may be worth a short conversation. Get in touch through our contact page and a senior lawyer will reply within one business day.
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This register contains general information only and does not constitute legal advice. Envision Legal accepts no liability for any loss arising from reliance on this content. You should seek independent legal advice tailored to your specific circumstances. For enquiries, contact Envision Legal.