Question 2-1

Question 2-1 - which a third party reviews the case and...

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Arbitration is one of the ADR formal methods when the parties submit their disputes to a neutral third party (arbitrator) who render a decision. The general view is that the parties are free to frame the issues and set the powers of the arbitrator at the outset, they cannot complain about the result. The award will be set aside only if the arbitrator violates public policy or exceed his/her power. The decision is binding unless the court specify otherwise. Arbitration is most commonly used for the resolution of commercial disputes for the disputers outside the court. In which an arbitrator hears a disputes and a decision they agree to be bound. It is a settlement technique in
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Unformatted text preview: which a third party reviews the case and imposes a decision that is legally binding for both sides. Arbitration can be either voluntary or mandatory and can be either binding or non-binding. In the typical hearing format, the parties present the opening arguments to the arbitrator and state what remedies should or should not be granted. Next the parties present evidence supporting their positions. The arbitrator then renders a decision, called an award....
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