respond each question with a paragraph.

1. What is the difference between a statute and an administrative regulation?

2. Explain why a business person would want to use alternative dispute resolution methods. Discuss the advantages. What disadvantages do you see?

3. Carolyn, Elwood, and Isabella are involved in a real estate development. The development is a failure, and Carolyn, Elwood, and Isabella want to have their rights determined. They could bring a lawsuit, but they are afraid the case is so complicated that a judge and jury not familiar with the problems of real estate development would not reach a proper result. What are the other possible methods they might pursue to resolve the dispute?