Asked by Corien Frazier on Jul 05, 2024
Verified
Which of the following is accurate regarding the speed and cost of alternative dispute resolution (ADR) ?
A) It is usually faster and cheaper than litigation.
B) It is usually faster,but more expensive,than litigation.
C) It is usually slower and more expensive than litigation.
D) It is usually slower,but less expensive,than litigation.
E) No formal studies have been conducted regarding the speed and cost of ADR,so the answer is unknown.
Alternative Dispute Resolution
is a collective term for methods of resolving disputes outside the judicial process, such as arbitration or mediation.
Litigation
The process of taking legal action or resolving disputes in court; involves a plaintiff filing a lawsuit against a defendant to seek judgments or damages.
Speed and Cost
Considerations in decision-making, focusing on how quickly actions can be taken and the expenses involved.
- Gain insight into the various modes of alternative dispute resolution (ADR) and their respective advantages.
Verified Answer
ZK
Zybrea KnightJul 07, 2024
Final Answer :
A
Explanation :
ADR methods are generally faster and cheaper than litigation.According to the National Arbitration Forum,the average time from filing a complaint to judgment through litigation is 25 months.Because ADR is faster,it is usually cheaper.
Learning Objectives
- Gain insight into the various modes of alternative dispute resolution (ADR) and their respective advantages.