_______Is a Method of Settling Disputes Outside of Court by Using

question 145

Multiple Choice

_______is a method of settling disputes outside of court by using the services of a neutral third party who acts as a communicating agent between the parties. This method is less formal than arbitration.

• A) ADR
• B) Negotiation
• C) Settlement agreement
• D) Mediation

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Definitions:

Suretyship Provision

A clause in a contract that involves a third party (the surety), who agrees to fulfill the obligations of a debtor to a creditor, should the debtor fail to fulfill their contractual obligations.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing to be legally enforceable.

Real Estate

Property consisting of land or buildings, along with the natural resources of the land including uncultivated flora and fauna, water, and minerals.

Easement

A non-possessory right to use and/or enter onto the real property of another without owning it.