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Most State Statutes Authorizing Voluntary Arbitration Accept an Agreement to Arbitrate

question 90

True/False

Most state statutes authorizing voluntary arbitration accept an agreement to arbitrate even if it is oral in form.


Definitions:

Economic Profit

The financial surplus a company has after deducting all types of costs, including visible and hidden, from its gross income.

Existing Technology

The current state of technological development or the sum of the technological innovations available in any given field or society.

Process Innovation

The introduction of a new or significantly improved production or delivery method.

Technological Advance

Technological Advance refers to the development and application of new technologies and improvements to existing technologies, which can increase efficiency, productivity, and quality of products and services.

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