Document Type

Article

Publication Date

2020

Publication Title

The Journal of Corporation Law

Volume

46

Issue

1

First Page

143

Abstract

The result of applying general contract principles to consumer boilerplate has been a mass transfer of unrestricted rights to use and sell personal information from consumers to companies. This has enriched companies and enhanced their ability to manipulate consumers. It has also contributed to the modern data insecurity crisis. Information age consumer transactions should create fiduciary relationships between firm and consumer as a matter of law. Recognizing this fiduciary relationship at law honors the existence of consumer agreements while also putting adaptable, contextsensitive limits on opportunistic behavior by firms. In a world of ubiquitous, interconnected, and mutable contracts, consumers must trust the companies with which they transact not to expose them to economic exploitation and undue security risks: the very essence of a fiduciary relationship. Firms owe fiduciary duties of loyalty and care to their customers that cannot be displaced by assent to boilerplate. History, doctrine, and pragmatism all support this position

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