Examlex
Which of the following statements is correct?
Business Regulations
Rules and standards set by governments or regulatory bodies to control and guide the operations, ethics, and practices of businesses within a jurisdiction.
Arbitration
A method of dispute resolution where an impartial third party makes a decision to resolve the conflict, often used as an alternative to litigation.
Binding Decision
A definitive ruling or judgment, usually from a court or tribunal, that is legally required to be followed.
Third Party
An entity or individual that is involved in a transaction or agreement but is not one of the principal parties, often providing services or mediation.
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