The Failure of a Party to Be Present at an Arbitration

question 17

True/False

The failure of a party to be present at an arbitration constitutes a waiver of the right to reject the arbitration award and seek de novo judicial review.

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Definitions:

Grinding Minutes

Grinding minutes are a measure of the time spent in the process of grinding, which is a machining process used to improve surface finish or obtain precise dimensions by removing small amounts of material.

Monthly Demand

The total quantity of a product or service that consumers are willing and able to purchase within a month.

Variable Selling Cost

Costs that vary directly with the level of sales, such as commissions or shipping charges related to the sale of products.

Opportunity Costs

Opportunity costs represent the benefits a person, investor, or business misses out on when choosing one alternative over another.