Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Arbitration is a method of alternative dispute resolution. Which of the following best describes the process of arbitration? parties. b. Arbitration involves the parties or

image text in transcribed

Arbitration is a method of alternative dispute resolution. Which of the following best describes the process of arbitration? parties. b. Arbitration involves the parties or their legal representatives engaging directly in order to find some form of mutually acceptable the Arbitration normally requires that some compromises be made by both parties in order to reach a resolution. c. The parties meet before a neutral third person called an arbitrator. The arbitrator will usually be skilled in the area of the dispute. They are more active that mediator in that they will express an opinion about the relative positions of the parties and suggest possible solutions d. Arbitration requires the disputing parties to engage an independent third party to help them to arrive at an agreements binding. The role of the arbitrator is not to impose a solution but to help the parties explore the options availa the the involve any independent third party. Arbitration is the most similar ADR method to Court proceedings

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Contemporary Issues In Quantitative Finance

Authors: Ahmet Can Inci

1st Edition

1032101121, 978-1032101125

More Books

Students also viewed these Finance questions