Which of the Following Statements Is True Regarding the Use

question 38

Multiple Choice

Which of the following statements is true regarding the use of arbitration as a form of alternate dispute resolution?

• A) Arbitration is only available if the parties have included an arbitration clause in their agreement.
• B) All arbitrators must meet particular mandatory qualifications.
• C) Arbitration decisions are normally final and enforceable in courts.
• D) Arbitration offers little flexibility in the degree of formality of its processes.

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Definitions:

Single Payment

A one-time transaction involving the transfer of money or other value from one party to another.

Lender

An individual or institution that provides funds to another with the expectation that the funds will be repaid, typically with interest.

Equal Payments

Regular payments that are the same in amount over a period of time, typically referring to loans or mortgages.

Interest Annually

Interest that is calculated and paid once every year on a loan or investment.