Mediators Have Binding Legal Authority to Require the Parties to Settle

question 28

True/False

Mediators have binding legal authority to require the parties to settle an interest dispute,but they often first restrict themselves to offering advice to help each party to clarify their own priorities and assessment of costs or risks associated with failing to reach a voluntary agreement.

Comprehend the factors affecting the enforceability of agreements not in writing.

Analyze the role and characteristics of formal contracts such as contracts under seal and letters of credit.

Explain the mirror-image rule and the mailbox rule in the context of agreement formation.

Appreciate cross-cultural perspectives on contracts, highlighting differences in contract views and preferences.