There was a dispute between an automobile insurance company and its insured concerning value in the loss of a truck.The insurance policy required arbitration of disputes. Each party selected an arbitrator; than these two, when unable to agree, selected a third party as umpire. The umpire without consulting anyone or receiving any testimony, fixed the value of the loss. If challenged,will a court set aside this award? why or why not?
The court should not set aside the award. the disputed value of the... View the full answer