Which of the Following Is Considered an Attribute of Arbitration

question 73

Multiple Choice

Which of the following is considered an attribute of arbitration?

• A)It is usually somewhat less formal than litigation.
• B)It is private.
• C)It is usually less expensive.
• D)all of the above

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Definitions:

Existing Liabilities

Financial obligations or debts that a company or individual currently owes and is responsible for repaying.

Submission

in legal terms means the act of presenting a document, proposal, or application to a person or authority for consideration or judgment.

Arbitration

A method of dispute resolution where an impartial third party, the arbitrator, makes a decision to resolve a conflict outside of court.

UPA

Uniform Partnership Act; a law in the United States that provides a basic framework for the operation of partnerships in the absence of an express agreement.