Mrbinky
Well-Known Member
At some point, there's likely to be a "race for the exit", if all this worry reaches a tipping point.
Then we will see just how much protection PayPal really provides. I'm doubtful it's more than a "fig leaf" at best. A few claims, they may pay without problem, but at some point they are going to want to limit their own liability. In which case, they might have a (somewhat) valid argument, provided by the posts on this board:
Everyone knew it was speculative, and they knowingly and willingly took the risk. Even in the face of mounting evidence, they failed to limit that risk (by asking for a refund while it was still possible, for example, and even adding to their orders in some cases.)
There is a legal principal that the consumer has a responsibility to limit their own exposure to damages whenever possible, and failure to do so limits any loss they can claim against those damages.
Basically, what I'm saying is: if you suspect that Grasshopper Labs might fail, and are holding off on canceling your order because you are counting on PayPal to "bail you out" in case they do...think again. PayPal may have legal grounds to refuse to help if they suspect that you failed to act as soon as you became aware of the risk. You basically have no right to knowingly gamble with other people's money.
Then we will see just how much protection PayPal really provides. I'm doubtful it's more than a "fig leaf" at best. A few claims, they may pay without problem, but at some point they are going to want to limit their own liability. In which case, they might have a (somewhat) valid argument, provided by the posts on this board:
Everyone knew it was speculative, and they knowingly and willingly took the risk. Even in the face of mounting evidence, they failed to limit that risk (by asking for a refund while it was still possible, for example, and even adding to their orders in some cases.)
There is a legal principal that the consumer has a responsibility to limit their own exposure to damages whenever possible, and failure to do so limits any loss they can claim against those damages.
Basically, what I'm saying is: if you suspect that Grasshopper Labs might fail, and are holding off on canceling your order because you are counting on PayPal to "bail you out" in case they do...think again. PayPal may have legal grounds to refuse to help if they suspect that you failed to act as soon as you became aware of the risk. You basically have no right to knowingly gamble with other people's money.