1. Please distinguish between fraud in the decision that is a grounds for appealing an arbitrator's decision and a claim of fraud, for example misrepresenting the nature of investments.

2. Why are parties required to mitigate damages after a breach has occurred if the court must calculate actual damages, but the parties are not required to mitigate damages if the contract contains a valid liquidated damages clause?

3. Which of the following is a correct statement about an arbitrator's decision/award?

a) Traditionally an arbitrator's award can be appealed for unconstitutionality, abuse, or if the the reason the parties are in arbitration is because the plaintiff claims the defendant committed fraud in their interactions.

b) An arbitrators award can always be appealed because an arbitrator doesn't have to be a lawyer.

c) An arbitrator's award can be appealed for unconstitutionality, abuse, collusion or fraud in the decision, because these attack the validity of the process.

d) States are not permitted to expand the bases for appealing an arbitrator's award.