Which of the Following Types of Arbitration Gives the Parties

question 13

Multiple Choice

Which of the following types of arbitration gives the parties the MOST incentive to reach a settlement on their own?

• A) Target point arbitration
• B) Take-it-or-leave-it arbitration
• C) Strike-based arbitration
• D) Neutral arbitration
• E) Final-offer arbitration

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Definitions:

Implied Warranty Of Merchantability

The implied warranty of merchantability is a legal guarantee that goods sold by a merchant meet minimum quality standards, making them fit for the ordinary purposes for which such goods are used.

Foreign Substance

Any material or agent that is not naturally part of another substance or environment, often causing contamination or undesired effects.

Implied Warranty Of Merchantability

An assurance that a product is fit for the ordinary purposes for which such products are used, even if not expressly stated.

Merchant

A person or business that sells goods or services to consumers.