Question about Subscription Rate Increases & TOS Legalities...
I'm going to use a hypothetical scenario of an actual real world situation...
You sign up for a membership program. The cost is $97 per month.
You are required to check a box which says, "Yes, I have read the Terms and Conditions for this offer."...
In the Terms and Conditions, there is a statement which says, "You are required to pay the current monthly membership fee, which we can change at any time during your membership."
The first month, you get charged for $97.
The second month, you notice a charge for $997...the NEW price of the monthly membership...
Keep in mind that the company did not notify you about the new membership price...it just appeared on your credit card statement...and upon checking the site after the charge, you notice that indeed, they now have a $997 per month price tag on their signup form...
Is this legal in all 50 states?
Are they required to notify you of the price increase?
Does anyone know of specific laws that govern subscription based business'?
Thanks!
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