A Contract Drafted by a Dominant Party and Then Presented

question 114

Essay

A contract drafted by a dominant party and then presented to the other party-the adhering party- on a "take it or leave it" basis is called a _________________ and it is generally ________________ .​

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Definitions:

ADR

Stands for Alternative Dispute Resolution, which encompasses various methods outside of court proceedings to resolve disputes, including arbitration and mediation.

Federal Arbitration Act

A United States federal law that provides for the enforcement of arbitration agreements and governs the proceedings of arbitration in commercial disputes.

Arbitration Act of 1980

Legislation that governs the process of arbitration, a form of alternative dispute resolution, in specific jurisdictions, facilitating and regulating the settling of disputes outside the court system.

Interstate Commerce

Refers to any trade, traffic, or transportation within the U.S. that crosses state boundaries or affects more than one state.