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Multiple Choice Question

Parties to a legal dispute may decide to arbitrate that dispute by entering into a:

A. submission agreement
B. release
C. mediation accord
D. consent judgment


Sagot :

Final answer:

Arbitration in legal disputes involves parties agreeing to a neutral third party's decision, known as the 'award,' which is binding.


Explanation:

Arbitration is a type of third-party intervention where both sides in a legal dispute agree to abide by the decision of a neutral third party called the arbitrator. In arbitration, the arbitrator makes the final decision, known as the 'award,' which is binding to the parties involved.


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