When Arbitration Is Mandatory Under a Statute, the Losing Party

question 29

True/False

When arbitration is mandatory under a statute, the losing party generally can appeal from such arbitration to a court.

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Definitions:

Inflationary

Related to or indicative of the increase in prices of goods and services over time, leading to a decrease in the purchasing power of money.

Self-Sufficient

Capable of fulfilling all necessary needs without relying on external resources or assistance.

Tariff

A tax imposed by a government on goods and services imported from other countries to raise state revenue or protect domestic industries.

Imported Steel

Steel that is produced in one country and then brought into another country for use in manufacturing or construction.