$700k windfall: Russian man outwits bank with hand-written credit contract — RT Business

$700k windfall: Russian man outwits bank with hand-written credit contract — RT Business.

Dmitry Agarkov hand wrote a few key amendments to an unsolicited credit card offer and sent it back.  The credit card company accepted it without reading it and issued the credit card, accepting, Agarkov argues, the “counter offer” he made.  Fraud… or just an example of how any offer-counter-offer process should work?  If the case does not settle, the Russian court system will decide, but Tinkoff Credit Systems would probably be smarter to make a reasonable offer to Mr Agarkov and slink off to wash the egg from its corporate face.   There are certainly ways a business that offers form contracts can protect itself from unexpected amendments.  Here, however, even if the lesson is of the advisability of reading the entire contract before one signs it, the inescapable irony is that banks themselves are seldom likely to accept the “I didn’t read the fine-print and therefore should not be held to the terms of the agreement” excuse when a customer tries to play that card.

Hat Tip to RT Network.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s