Chapt 3 HW - Garrett Barnes Chapter 3 HW 1. What are the...

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Garrett Barnes Chapter 3 HW 1. What are the risks associated with arbitration? Why might a company prefer to settle disputes by litigation? What are the advantages of arbitration? Despite reputation for being less costly than litigation, arbitration is not cheap. Once you agree to arbitration you may not withdraw. Litigation is the final alternative for resolving a dispute. It is used more frequently in the US that in virtually any other country. Suffice to say that almost every body of law can vary from legal system to legal system and country to county. This will have tremendous impact on the outcome of litigation. Arbitration awards are enforceable under the local law of the country where the reward was made, the defendant was given notice of the arbitration, the defendant was properly subject to the jurisdiction of the tribunal. The risk associated with arbitration is that you could get a ruling that is from out in left field and it is binding just because you picked the wrong
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This note was uploaded on 09/01/2011 for the course BUSINESS 101 taught by Professor Jones during the Spring '11 term at Southern Nazarene.

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Chapt 3 HW - Garrett Barnes Chapter 3 HW 1. What are the...

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