Canteen v. Charlotte Metro Credit Union

Summary

The Court held that the credit union validly amended its membership agreement to require arbitration and waive class actions. A unilateral amendment made under a mutually agreed change-of-terms provision is enforceable when it reasonably relates to subjects discussed and reasonably anticipated in the original agreement; the existing governing-law and forum provision satisfied that requirement. The amendment was therefore consistent with the implied covenant of good faith and fair dealing, did not render the contract illusory, and constituted a binding arbitration agreement.