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Unformatted text preview: B. Cons expensive and unpredictable VI. Alternative Dispute Resolution A. Negotiation informal discussions B. Mediation third party mediator assists the parties in reaching a settlement 1. Pros a. Quicker b. Cheaper 2. Cons a. costs for mediator and attorneys b. usually voluntary C. Arbitration third party renders a legally binding decision 1. The parties can agree ahead of time to arbitrate in the event of a dispute 2. In lieu of a lawsuit 3. The process a. submission referral to an arbitrator b. hearing relaxed rules of evidence and procedure c. award 4. Pros a. Cheaper b. Experts in the field 5. Cons a. No right to a trial b. Punitive damages unlikely c. Limited court review 6. Enforcement of arbitration clauses...
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- Spring '07