BUL 4421 - Chapter 4 Questions And Answers With Latest Solutions
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Module
BUL 4421 - Chapter 4
Institution
BUL 4421 - Chapter 4
Advantages of Arbitration: - ️️-more efficient and less expensive than litigation
-parties have more control over the process of
dispute resolution through arbitration
-the parties can choose someone to serve as the
arbitrator who has expertise in the specific
subject matter.
-the arbitra...
BUL 4421 - Chapter 4
Advantages of Arbitration: - ✔️✔️-more efficient and less expensive than litigation
-parties have more control over the process of
dispute resolution through arbitration
-the parties can choose someone to serve as the
arbitrator who has expertise in the specific
subject matter.
-the arbitrator has greater flexibility in decision akin
than a judge has.
Disadvantages of Arbitration: - ✔️✔️-arbitration panels are being used more frequently,
resulting in a loss of some of the prior advantages
of arbitration.
-appealing an arbitration award is more difficult,
injustice is more likely to occur.
-agreement to give up ones right to litigate, one
may be losing important civil rights or giving up
important potential remedies without really
understanding which rights are being given up.
-If more and more employers turn to mandatory
arbitration, it will become more like litigation.
-privacy associated with arbitration
Negotiation - ✔️✔️A bargaining process in which disputing parties interact informally,
either with or without lawyers, to attempt to resolve their dispute.
A neutral third party, such as a judge or jury, is not involved.
Adversarial negotiation - ✔️✔️A party can enter negotiations with one of two
approaches: adversarial or problem solving.
To reach a successful settlement, each part must give up something in exchange for
getting something from the other side.
Mediation - ✔️✔️An extension of negotiation is mediation.
, The disputing parties select a neutral party to help facilitate communication and suggest
ways for the parties to solve their dispute.
Advantages of mediation: - ✔️✔️-Helps disputing parties preserve their
relationships
-Potential for creative solutions
-Parties to mediation have a high level of
autonomy
-Less costly, less time-consuming, less
complicated
Disadvantages of mediation: - ✔️✔️-informal process improperly creates an image of
equality between the parties.
-We improperly assume that the resulting
agreement between the parties is also equal.
-Some people may abuse the mediation process in
an attempt to simply draw out the dispute.
Arbitration - ✔️✔️One of the most frequently used method of dispute resolution.
It's the resolution of a dispute by a neutral third party outside the judicial setting.
It is often a voluntary process in that parties typically have a contractual agreement to
arbitrate any disputes.
Alternative Dispute Resolution - ✔️✔️The resolution of legal disputes through methods
other than litigation, such as negotiation, mediation, arbitration, summary jury trials,
minitrials, neutral case evaluations, and private trials.
Organizations often use ADR to resolve disputes involving contracts, insurance, labor,
the environment, securities, technology, and international trade.
Why might a business prefer to resolve a dispute through Alternative Dispute Resolution
(ADR) rather than litigation? - ✔️✔️First, ADR methods are generally faster and
cheaper than litigation. Accordingly, the National Arbitration Forum, the average time
from filing a complaint to receiving judgment through litigation is 25 months.
Because ADR is faster, it is usually cheaper.
Secondly, a business may wish to avoid the uncertainty associated with a jury decision.
Third, a business may wish to avoid setting a precedent through a court decision. Many
business prefer ADR because of its confidential nature.
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