The Nonbinding,informal Process in Which a Third Party Is Selected

question 52

Multiple Choice

The nonbinding,informal process in which a third party is selected by the disputing parties to attempt to help them reach a mutually acceptable agreement is known as:

• A) conciliation.
• B) negotiation.
• C) consensual arbitration.
• D) compulsory arbitration.

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Definitions:

Non Est Factum

A legal defense asserting that a contract is invalid because the signing party was mistaken about its nature and character, not merely its contents or terms.

Fraudulent

Pertaining to deceitful actions or false representations made intentionally to gain an unjust advantage or harm another party.

Rescission

The legal act of canceling, terminating, or voiding a contract, returning all parties to their positions prior to the contract.

Noise Suppression

Techniques or technologies used to reduce or eliminate unwanted sound or background noise.