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Awwww. Couldn't happen to a more deserving defendant. I'd love to see See-Gull doing the perp-walk.
http://www.knoxnews.com/news/local-news/court-timeshare-company-to-pay-600k_00842777
guess the original decision got overturned on appeal and the client was awarded $600k (no clue how much went to the lawyers)
while I love the decision (and hope to see it used to nail salesmen who continue to lie)...600k seems a bit...extreme?
We are 150 million times happier we bought on Resale and have had great experiences with our properties both using our home Resort and trading.
I just love how the sales people guarantee a particular unit. This is far from the truth. At a hotel you are never guaranteed a unit just a request. I always put in my requests early and confirm them closer to the time knowing they are just that requests.
If resorts guaranteed units they would be put out of business really quick. I mean you can't even guarantee the resort will be here in 10 years, 50 years etc
People fall for these deals because they don't know how to add up the value. A free trip to Hawaii becomes more hectic when you find out you can't fly on the dates you want to, limited availability etc. If I really wanted to go to Hawaii I would buy resale and use the savings to go to Hawaii and then have money leftover.
Then there is talk about free Bonus Weeks for buying today. If I checked online I could get a nice 2 bedroom for 1,500 per week or $200 per night if I wanted a 5 star place. So it may be $500 per night but heck its not $40,000 dollars+ Mainanace Fees.
Oh yea and I just love how the weasels say just for buying I'll buy you dinner and you can come here to our resort in a 2 bedroom for a bonus week. Yea right Dinner is no more than $50 per person and bonus week is no more than $800ish depending on the unit.
People just get so excited like when they gamble they just can't stop and they get so upset when they find TUG BBS. I am so fortunate to have found TUG BBS online before buying not after buying and asking did I get a good deal after buying directly from the developer and wasting time rescinding the offer.
Remember this before buying directly from the developer. Ask yourself these questions
1. Will I be happy with my investment knowing it will depreciate?
2. Can I find something similar or better for less money on resale?
3. Can I get over the lies that I will be treated different if I buy on resale?
4. Will I be proud of my purchase throwing $40,000+ down the drain knowing that I am covering the commission fees of the agent plus paying annual dues?
5. How much would it cost us to go to X buying direct vs resale?
6. What if I can't afford it how will I be able to get out of the deal?
7. Can I waste time writing the letter to rescind my purchase?
8. Why didn't I find out about TUG BBS before?
Questions like these will help you save money in the long rung and for the short term as well.
You can't lock a corporation up. So you fine them and their shareholders get mad at management.I just have an extreme dislike for todays overly litigious society and absurd monetary numbers generated for folks that simply dont match what would normally rightfully "owed" them.
You can't lock a corporation up. So you fine them and their shareholders get mad at management.
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Because it is fact.I don't know why anyone would say a corporation cannot be locked up. It is quite simple to cause one to cease operation for a period of time. Officers of corporations can also be place in prison. The reasons for using fines to punish is simply a matter of greed.
I dont disagree with you there, i just feel the punishments should either be non-monetary...or have these penalties spread out among more victims.
so basically...i think 500k is a trivial amount for a company that large to pay
and I think 500k is a ridiculous amount to give to a single party in this particular instance.
ohwell, it is what it is.
But the funny thing is Westgate were so incompetent in keeping the CD up to date that they did not even need those modifications.If this was a class action things would be different (although it would be the attorney who gets all the money usually in those).
This party involved in the contract was VERY SMART. I would not be surprised if they actually walked into the timeshare presentation with this as their intent from day 1.
Think about this:
1. They got the TS salespeople to actually modify the contract for their purchase (how often do you see that happen?)
2. They were savy enough to know and document all the steps they took to get their contractual rights enforced.
most people who buy into a TS would never consider asking for contract modifications, salespeople are trained to write nothing, but speak a lot and give misleading promises.
I actuall expect that if you dug in hard enough, they probably attempted to do this at multiple resorts and had no others willing to modify contracts.
But the funny thing is Westgate were so incompetent in keeping the CD up to date that they did not even need those modifications.
And in any case doesn't the law require human readable docs. These days less and less hardware is shipped with a CD/DVD/BD drive. If I'm a Mac with a Mac book air and a iPhone how do I read these docs.
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This party involved in the contract was VERY SMART. I would not be surprised if they actually walked into the timeshare presentation with this as their intent from day 1.
.
Because it is fact.
BP cannot be sent to jail. It was not sent to jail for Gulf of Mexico spill. That's the magic of the veil of incorporation. It's directors and officers can as you point out, but the burden of proof to get those charges to stick is high.
If you or I poured a barrel of oil overboard on a boat in the gulf and we're caught jail time is likely.
Similarly, corporate manslaughter charges usually fail. Especially in larger companies.
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I still remember the look on the lawyer's face at the closing for my home when I started reading through each page before signing to make sure it matched my expectations.I am actually partially confused on the whole CD of contract thing. I would never just sign papers and them say I will have a CD mailed to me. Of course, I am the guy that asked my mortgage closing company to send me all the closing docs before I showed up to closing so that I could read them in advance for errors. I am also the guy who sat during the closing and read most of that stuff to while there, just to make sure key provisions were included.
I also sat there with a calculator and double checked math.
I didn't want to pay an attorney, so I did it myself
Of course, given their Profit margine, I would imagine that the $500k is probably profits on about $1.5 - 2 Million in sales.
My point is there are ways to "lock up" other than using a physical cell. When the US did not like the actions of Cuba, the government "wall them off" from the US by not allowing the country to do business. A real estate agent that breaks the rules often finds their ability to do business suspended for a period of time; there business is "locked up" for a while even if they are not. The government could have chosen to "lock up" BP's drilling operations for a period of time, but chose not to do so. There are ways to punish corporations who break the law other than requiring them to share some of their ill-gotten gains.
BP could still operate elsewhere just as a criminal could be free in Switzerland when convicted by US courts and sentenced to jail time and only get to return to the US as a free person after getting a presidential pardon.But in the examples you use, you are not taking away their freedom; just some of it.
A BP that cannot drill in the US is still drilling across the globe.
Cuba cannot do business with the US but can with LatAM and Canada and Central America and Europe. Their tourists can still visit the beautiful island.
The Broker, not the brokerage is in trouble. Other brokers still operate under the umbrella and the brokerage can still sell your home.
These are other alternatives but none of them take a certificate of incorporation and incarcerate it.
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BP could still operate elsewhere just as a criminal could be free in Switzerland when convicted by US courts and sentenced to jail time and only get to return to the US as a free person after getting a presidential pardon.
Fines are not the only option, but they are the most profitable. That is my primary point.
(Would you believe on the most common lines my mother utters to me is, "you just like to argue"?)
This party involved in the contract was VERY SMART. I would not be surprised if they actually walked into the timeshare presentation with this as their intent from day 1.