When Can an Arbitration Award Be Set Aside

question 83

Multiple Choice

When can an arbitration award be set aside?

• A) If the parties do not like the outcome of the arbitrator's award.
• B) If the award resulted from fraud, corruption or the arbitrator misbehaved in a way that prejudiced the rights of the parties.
• C) If the courts do not like the arbitrator that the parties picked.
• D) If the arbitrator was a lawyer and not a judge.
• E) If the arbitrator was a judge and not a lawyer.

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Definitions:

Lead Time

The period between the initiation and completion of a production process or the delivery of a service.

Value-Added Ratio

A measure of a company's efficiency, calculating the proportion of time and resources that contribute directly to customer value.

Batch Size

The amount of production in units of product that is produced after a setup.

Prevention Costs

Expenses incurred to avoid or minimize the number of defects in products before they reach the customer.