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Arbitration and its possible advantages over litigation
Member rating: No Rating | Words: | Submitted: Mon Jun 19 2006
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Arbitration and its possible advantages over litigation Introduction It is common for parties in a dispute to have their matter settled by going to court. However there is another option open to them through arbitration. This is an alternative than going to court which is used in many different situations. The parties both decide on an 'arbiter' who will therefore come to a decision which both parties agree to accept as binding. Sometimes there can be two arbiters, one put forward by each party. Conciquently if the two arbiters are not in agreement, they or the parties can appoint an 'oversman' who will then make a decision. A good example of Arbitration is " to exclude a court of law from the determination of some matter which is in dispute; and to take in its place the judgement or award of some private person or persons, selected by the parties to arbitrate between...
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