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negotations
both parties either on their own or w/ an attorney come to some mutual agreement
mediation
where a neutral 3rd party helps to facilitate an AGREEMENT between the parties
benefit: cost effective and help determine the settlement parties
*non-binding
mediator (referee)
meets w/ the parties at a neutral location where the parties can discuss the dispute and explore a variety of solutions
arbitration
“deemed valid”
where one signs an arbitration agreement knowingly and willfully the arbitration agreement will be deemed valid unless the agreement is unconscionable (heavily biased)
*acts as a judge and makes a binding decision on the dispute.
*binding
arbitration award
deemed final—> binding and just when you sign an arbitration agreement you wived your right to try your case before the court
The arbitrators conduct or “bad faith” substantially
The award violates an established public policy
The arbitrator exceeded her or his powers→ that is arbitrated issues that the parties did not agree to submit to arbitration
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Flashcard (78)