Asked by Marisa Maynes on May 28, 2024
Verified
When can an arbitration award be set aside?
A) If the parties do not like the outcome of the arbitrator's award.
B) If the award resulted from fraud, corruption or the arbitrator misbehaved in a way that prejudiced the rights of the parties.
C) If the courts do not like the arbitrator that the parties picked.
D) If the arbitrator was a lawyer and not a judge.
E) If the arbitrator was a judge and not a lawyer.
Arbitration Award
The decision made by an arbitration panel or arbitrator at the conclusion of an arbitration proceeding.
Fraud
Deliberate deception or trickery intended to gain an unfair or unlawful advantage, typically involving financial transactions.
Misbehaved
Exhibited bad behavior or conducted oneself in a manner that is not acceptable or appropriate.
- Acquire knowledge about the legal parameters and reasons that empower courts to invalidate and overturn arbitration decisions.
Verified Answer
MS
Muhammad ShabanMay 29, 2024
Final Answer :
B
Explanation :
An arbitration award can be set aside if there was fraud, corruption, or misbehavior by the arbitrator that prejudiced the rights of the parties. This is a legal ground recognized in many jurisdictions for challenging an arbitration award.
Learning Objectives
- Acquire knowledge about the legal parameters and reasons that empower courts to invalidate and overturn arbitration decisions.
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