Asked by Aakash Bathija on May 28, 2024
Verified
In the context of ADR, the decision rendered by an arbitrator is called a(n)
A) submission agreement.
B) decision.
C) settlement agreement.
D) award.
Submission Agreement
A written agreement to submit a legal dispute to an arbitrator or arbitrating panel for resolution.
Settlement Agreement
A legally binding contract between parties resolving a dispute or lawsuit outside of court through mutual concessions.
Decision
The conclusion or resolution reached by a court, judge, or arbiter in a legal case.
- Understand the principle and application of non-binding and binding arbitration in dispute resolution.
Verified Answer
TD
Torie DukesMay 28, 2024
Final Answer :
D
Explanation :
The decision rendered by an arbitrator in the context of Alternative Dispute Resolution (ADR) is referred to as an "award." This term is specifically used to denote the outcome or decision made by an arbitrator or arbitration panel in resolving the dispute presented.
Learning Objectives
- Understand the principle and application of non-binding and binding arbitration in dispute resolution.