These things are more of a scare tactic than anything. ToS agreements aren't the law you know. If you're state has ruled that consumers must always have the right to puruse legal action (as many do) then you are unaffected by this. Agreements might say one thing, but it's your state law that matters. If you sign a lease that says "no pets allowed" but state-tennant laws allow pets then you can have a pet. The lease that your landlord drew up doesn't mean a thing.
But I live in Canada anyways so who cares!
http://www.bloomberg.com/news/2011-04-27/at-t-unit-wins-arbitration-case-at-u-s-supreme-court.html
It sounds like it can trump state laws to me but I'm not that familiar with how it works in the US.
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Pokemon VGC2011 US Nationals - 54th place
Pokemon VGC2012 NW Regional - 16th place