Three elderly individuals spent tens of thousands of dollars buying collectible coins, often priced far above market value, from Asset Marketing Services, LLC (“AMS”). They sued AMS for violating Minnesota law. AMS moved to stay the case and compel arbitration. The district court refused, and AMS appeals.
The Eighth Circuit reversed and remanded for trial on the extent to which the parties agreed to arbitrate. The court explained that the parties agree that Minnesota’s law applies. Under its law, contract formation requires an offer, acceptance, and consideration. In this case, there are genuine issues of material fact about whether and when the parties formed contracts that incorporated the arbitration agreement.
On appeal, AMS advances various new arguments against applying the Consent Order, including that it should be assessed by an arbitrator in the first instance, not a court. This Court declines to address these new arguments. In any event, Plaintiffs cannot enforce the Order because they lack standing to do so—an argument AMS did raise before the district court. View "William Ballou v. Asset Marketing Services, LLC" on Justia Law
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