If you sign a contract, is it a legal document? If you accept delivery of a product, even if it is intangible, by signing an acceptance of delivery with big print saying, "You have ten days to look at this product and decide if you will accept delivery. After that time, it is considered your property under the terms of the contract," is it a legal transaction?

Well, not according to our little weasel friends the trial lawyers. There are class action lawsuits going on around this country right now that are so outrageous it boggles a rational human's mind.

Let's take Life Insurance for an example. You might refer to other posts I've done on this topic for reference materials if you like, but the bottom line is this: When you buy life insurance there are several options. No matter what option you choose, you will receive (by law) plenty of material telling you just what the ins and outs of that product are. If you buy life insurance that is tied to some sort of rate of return, that rate is variable. There is a guaranteed minimum, but no guarantee above that.

Since we're in a climate of low interest rates (which is good, if you are borrowing money, but bad if you're living off of interest on invested money; did I need to say that?) there are some folks who are unhappy with the results of insurance policies bought in the 1980's. This was when we had double digit inflation with a Democratic President and a Democratic Congress, before Reagan's tax cuts, which are the reason for the economy you enjoy today.

Some of those folks are now claiming that their life insurance was sold to them as an investment and they are suing all the large life insurance companies in America. Class-action lawsuits, where the ambulance chasers get rich and the plaintiffs get a few bucks.

They are lying. The lawyers are lying, and the plaintiffs are lying. They knew they were buying life insurance; they're just not happy with the way it turned out. It won't be long, and it may already have happened, where investors in the stock market will be filing lawsuits against their brokers because they lost money.

This is no way to do business. And it is costing you and me millions to make these lawyers rich. You are paying for all of this, be it tobacco, SUV's, Firestone tires . . . it all comes out of your pocket every time you make a purchase.