I will continue this discussion only if everyone agrees with my previous points. If anybody disagrees then please post.

So you mean to say that when we receive our credit cards in mail, we also receive a big long document with them. We definitely do not sign them and send them back. That means, the agreement is not complete?

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Originally posted by web2000

These are common points and can help reducing the ID theft. None of these provides fool proof protection.

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Originally posted by web2000

The meaning of an agreement in these countries is totally useless. Based on my knowledge, here is the definition of an agreement:-

An agreement is nothing more than a piece of paper if not signed. It becomes a legal document when both parties involved must sign and exchange their copies.

There is no such agreement signed when we apply for a loan,credit card etc. In simple terms the bank is giving out the money without any signature of the debitor. How such a big mistake is being made?

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Originally posted by Big Vee

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Originally posted by web2000

The meaning of an agreement in these countries is totally useless. Based on my knowledge, here is the definition of an agreement:-

An agreement is nothing more than a piece of paper if not signed. It becomes a legal document when both parties involved must sign and exchange their copies.

There is no such agreement signed when we apply for a loan,credit card etc. In simple terms the bank is giving out the money without any signature of the debitor. How such a big mistake is being made?

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Obviously your knowledge is limited. I am not sure what country you are in - but once you face a lawsuit, you'll realize the true meaning of an agreement.

An agreement can be written, can be verbal, can be by action, or finally by default. For example, software these days comes in CDs wrapped in an envelope. On the envelope and sticker that says - open this only if you agree to our terms and conditions (agreement by action). the bank sends you a credit card - right out of the blue - but it will say, if you use this card, you agree to the terms and conditions by default. You are employed and you go to work, you are bound by an agreement that is by default. The agreement is called the employment standards act (the law) and both you and your employer are agreeing to it without siging anything.

Of course we, the readers of this phorum, are always willing to listen to innovative experiments. Why don't you test your theory and see if you can take money from a bank - without an agreement.

BV

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Obviously your knowledge is limited. I am not sure what country you are in - but once you face a lawsuit, you'll realize the true meaning of an agreement.

An agreement can be written, can be verbal, can be by action, or finally by default. For example, software these days comes in CDs wrapped in an envelope. On the envelope and sticker that says - open this only if you agree to our terms and conditions (agreement by action). the bank sends you a credit card - right out of the blue - but it will say, if you use this card, you agree to the terms and conditions by default. You are employed and you go to work, you are bound by an agreement that is by default. The agreement is called the employment standards act (the law) and both you and your employer are agreeing to it without siging anything.

Of course we, the readers of this phorum, are always willing to listen to innovative experiments. Why don't you test your theory and see if you can take money from a bank - without an agreement.

BV

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So does it mean that anyone can start using those dummy credits card sent to me every week that I throw in the bin without even opening ? How scary? Why should we pay and put extra effort to make up for some company's stupidity/malicious intentions? Shouldn't this be changed?