Which Is True About an Arbitration Decision

question 76

Multiple Choice

Which is true about an arbitration decision:

• A) it must be in writing
• B) it is entered in the public record
• C) the legal basis must be explained by the arbitrator
• D) there may be punitive damages
• E) all of the other choices

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Definitions:

1985 RULPA

The Revised Uniform Limited Partnership Act of 1985, a set of laws adopted by various states in the U.S. to govern the formation, operation, and dissolution of limited partnerships.

Uniform Partnership Act

A set of laws adopted by states in the United States to govern the formation, operation, and dissolution of partnerships.

Limited Liability

Limited liability is a legal structure that restricts an investor's or owner's loss to the amount invested, protecting personal assets from business debts and claims.

Limited Partners

Investors in a limited partnership who contribute capital but have limited liabilities and are not involved in day-to-day management of the business.