Negotiations Over Certain Key Provisions of a New Labour Contract

question 47

Multiple Choice

Negotiations over certain key provisions of a new labour contract have become heated, and before tensions escalate even more, management has proposed bringing in a neutral third party who will hear both sides and suggest ways in which the parties might be able to compromise and reach a mutually satisfactory agreement. What is this third party called?

• A) negotiator
• B) arbitrator
• C) mediator
• D) ratifier

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Definitions:

Legal Agreement

A contract that outlines terms and conditions between parties, binding them legally.

UPA

Uniform Partnership Act, which is legislation adopted by some states in the USA to govern partnerships.

Limited Liability

A legal status where an individual's financial risk is restricted to a fixed amount, typically the value of their investment in a company, protecting personal assets from business debts.

Corporation

A legal entity recognized by law as separate from its owners, with its own rights, responsibilities, and liabilities.