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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
- Arbitration, attorney