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Agata [3.3K]
3 years ago
14

1. Jones files a lawsuit against BigMoney, LLC, a brokerage firm registered with the Securities and Exchange Commission. In the

lawsuit the plaintiff alleges that BigMoney violated the Securities Exchange Act by engaging in fraudulent excessive trading. BigMoney files a motion to dismiss the lawsuit because Jones had signed an agreement with BigMoney consenting to the terms of the agreement which stated all disputes between the parties must be resolved through arbitration. Jones argues that because of the nature of BigMoney’s conduct she is entitled to file a lawsuit and the arbitration clause in the agreement should be nullified. Which party in this lawsuit is right and why?
Business
1 answer:
tester [92]3 years ago
5 0

Answer:

Jones is right in this lawsuit

Explanation:

Arbitration is the process by which disputes are settled between parties. When there is a disagreement between parties an arbitrator comes in to give a fair and unbiased view of the situation.

A solution that is agreed to by all parties is agreed upon to settle.

In this scenario where Jones is filing a lawsuit against BigMoney LLC for violating the Securities Exchange Act by engaging in fraudulent excessive trading, this is a violation of the law and not a dispute between parties.

So the arbitration clause is is not binding and the arbitration clause should be nullified.

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