Asic sues PayPal over unfair contract term with businesses
E-commerce PayPal Australia is facing legal proceedings lodged by the Australian Securities & Investment Commission (Asic) after discovering an unfair term in the company’s contracts with small businesses. The term appears in PayPal’s User Agreement, one of several documents that form its contract with Australian business account holders. Under this term, business account holders have 60 days to notify PayPal of any errors or discrepancies in fees that it has charged them, or else accept those fees as accurate. The…