Well, it only took 3 ½ years since the Petition for Hearing was filed, and just a year and a half since the case was fully briefed (see CBL’s posts whining about the long delay here and here) but we finally have a decision in Sanchez v. Valencia Holdings (August 3, 2015) ___Cal.4th___, S1999119, the eagerly awaited consumer arbitration agreement case.
Short version: the binding arbitration agreement in the Form 553 CA ARB retail installment sale contract predominantly used by California automobile dealers in 2010 was valid and enforceable. But this is not just important for automobile dealers. The overall decision is important for all consumer goods businesses that want to use class action waiver and binding arbitration provisions. Because it confirms that they can.
More after the jump.