Alternative Dispute Resolution Is an Increasingly Popular Alternative to Litigation

question 39

Multiple Choice

Alternative dispute resolution is an increasingly popular alternative to litigation because:

• A)judges are generally perceived as out of touch with community values.
• B)lawyers seek to make the courtroom less accessible to aspiring litigants.
• C)the depiction of the courtroom in popular television has discouraged potential litigants.
• D)it is generally cheaper, faster, more private and less stressful than going to court.

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Definitions:

Option Contract

A contract granting the option holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a specified time period.

Legal Consideration

Something of value that is promised in exchange for performing an act or refraining from acting, forming a necessary element of a valid contract.

Open Offer

An invitation to all shareholders to purchase additional shares in the company, typically at a discount, and not limited to a specific number of shareholders.

Reasonable Intent

A legal standard assessing what a person of ordinary intelligence and prudence would intend under certain circumstances.