09-13-2011 01:26 PM
PayPal's complete money-grab and retention of our funds is NOT legal. Hear me out:
If you sell an item, deliver it as promised, the buyer loves it and leaves positive feedback with no intent of asking for a refund, isn't that PayPal's definition of a "good completed sale"? Then, how does PayPal...illegally, imho...get to hold onto the rather large sums of money in many accounts and, if they do release any of it, they do so at a rate of only $500 per month..not the entire sizeable amount?
My business partner and I have actually hired a lawfirm to research the issue and (possibly) sue PayPal for fraud, illegal witholding of funds and...here's the really important one..."conversion". Google that one if you don't understand the law. Apparently, according to our attorney's research, banking laws prevent such a situation from occuring in the first place.
Anyone else have any thoughts on this (I mean, other than "it's their company and they can do what they want"). Apparently...they are breaking the law and need to be challenged in court. I'll let you know if/when that might occur.
09-16-2011 07:51 AM
Easy there Pam...
Artie & I are just getting to know one another...feeling each other out.
We may have started off on the wrong foot , but it's getting better.
I did make a statement.....and the question I asked was rhetorical, and he picked up on that.
Can you see that now ?
He was agreeing with a like minded view.
Nothing sinister.
Artie,if you're saying that folks post here to get the facts and the truth of the matter, in answers to their questions and concerns , then..yes of course they do , but there's a lot more going on here than just that.
Some good fun, some bad nastiness....we've got it all on the PT Board.
Go join in on the word association game .
It's a great de- stresser !
( and pardon me while I go kick someones arse ! )
Komo, giving out good advice as usual. I guess I'm just a bit suspicious of artie after reading some of his past comments. But I'll trust your judgement on this one. 😄
09-16-2011 08:46 AM
That's good to hear Pam.
The past is in the past.....let's look to the future.
09-16-2011 06:08 PM
Komokwa: "Go join in on the word association game .
It's a great de- stresser !"
Thanks for the advice perhaps another time!
03-04-2012 08:51 PM
.... Where's CrazyMan been lately?
"In the US, although PayPal has an extensive User Agreement, PayPal is not directly regulated by the U.S. federal government, because it serves as a payment intermediary. PayPal is regulated as a money transmitter, 31 C.F.R. 1010.100(ff)(5). PayPal is also subject to state regulation, but state laws vary, as do their definitions of banks, narrow banks, money services businesses and money transmitters." . . . Wikipedia
The states in which PayPal resides are also accountable for the classification and allowances given.
By no means, like some others, am I a fan of PayPal's 'tatics' but it looks like they know how to play the 'game' . . . . . . . . . . the 'game' of...WORLD DOMINATION!
or
. . . stay within certain parameters to keep a 'loosely' controlled classification so 'we' can make as much money as possible . . . now there's a lawyer for ya!
"Crazy Man"
03-05-2012 02:56 PM
10-25-2012 05:19 PM
hi
I'm new on ebey .. I'm limited in sales
My limit is maximum of $ 500 a month ..
I put the lot for sale - starting price of 0.99 .. what can happen if rates exceed $ 500??
My lot is now active ..
I already have (15) of the positive feedback and 100% positive
10-25-2012 05:21 PM
hi
I'm new on ebey .. I'm limited in sales
My limit is maximum of $ 500 a month ..
I put the lot for sale - starting price of 0.99 .. what can happen if rates exceed $ 500??
My lot is now active ..
I already have (15) of the positive feedback and 100% positive
10-25-2012 05:46 PM
Yup!.... TRG.... Any updates? What state did your lawyer file the Class Action Suit in?
@hondamedic, who wrote: "...
Afternoon TRG....Hope you ain't paying that lawyer. PayPal is not a bank and does not fall under banking laws. If you are paying that lawyer, call him and cancel the investigation to save yourself any more needless expence. Just sayin'...."
Hey, hondamedic. I appreciate your comments and I understand them. But... My attorneys are exploring going after PayPal based on the legal theory of "conversion, a tort. Here is LexLaw's definition of "conversion". I believe it meets the definition of what PayPal is doing; see if you, or anyone else, agrees.
------------------------------------------------------
"CONVERSION"
TORT: It is the unlawful turning or applying the personal goods of another to the use of the taker, or of some other person than the owner; or the unlawful destroying or altering their nature.
When a party takes away or wrongfully assumes the right to goods which belong to another, it will in general be sufficient evidence of a conversion but when the original taking was lawful, as when the party found the goods, and the detention only is illegal, it is absolutely necessary to make a demand of the goods, and there must be a refusal to deliver them before the conversion will be complete.
The tortious taking of property is, of itself, a conversion and any intermeddling with it, or any exercise of dominion over it, subversive of the dominion of the owner or the nature of the bailment if it be bailed, is evidence of a conversion."
--------------------------------------------------------------------------------------
So, in other words, PayPal has committed a tortious offense in that they have committed conversion, which is illegal, and, for which they may be sued.
Res ipso loquitor...the thing speaks for itself.
Thanks for the response...
TRG
10-25-2012 05:55 PM
hi
I'm new on ebey .. I'm limited in sales
My limit is maximum of $ 500 a month ..
I put the lot for sale - starting price of 0.99 .. what can happen if rates exceed $ 500??
My lot is now active ..
I already have (15) of the positive feedback and 100% positive
10-25-2012 06:26 PM
Interesting reading. I hope TRG answers Honda's question.
10-25-2012 06:28 PM
Hi antenshn - I don't know the answer to your question, but you should start a new topic for your question. There are a lot of smart seller's on this board that will be able to help you. This is a very old thread with a very old topic that really doesn't relate to your question.
10-25-2012 06:53 PM
I can give you guys an example of the conversion - I had a employer who paid my insurance in lew of a raise well when the premiums increased he wanted me to pay for the increase and when I refused he tried to take it out of my last paycheck, and I along with his attorney advised him he could not withhold funds without a legal or court order, other than normal deductions. He couldn't hold or take my funds because he changed the rules,
10-25-2012 07:59 PM
I can give you guys an example of the conversion - I had a employer who paid my insurance in lew of a raise well when the premiums increased he wanted me to pay for the increase and when I refused he tried to take it out of my last paycheck, and I along with his attorney advised him he could not withhold funds without a legal or court order, other than normal deductions. He couldn't hold or take my funds because he changed the rules,
but he can fire you...so be careful.
10-25-2012 08:34 PM
Not for any of those reasons!! But I don't work for him any longer so Que Sera Sera!
10-27-2012 11:37 PM
I assume Ebay has hired their own crooked lawyers, to write their own crooked laws!Until their is another auction website,to take down Ebay,will do what ever they want,along with Paypal.Who knows,They maybe even paying off the judges in order to look the other way and throw any law suits out the door.Remember some big companies cannot be honest and still be in business,or they would go broke!