Using a Third Party to Settle a Dispute Is Called

question 130

True/False

Using a third party to settle a dispute is called negotiation.

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Definitions:

Sued By Principal

The action where a principal, often in a legal or business context, initiates a lawsuit against another party.

Default

The failure to fulfill a legal obligation, such as not making a payment on a loan.

Third Party

An entity or individual that is not directly involved in a legal agreement or transaction but may be affected by it or play a role in its execution.

Sole Proprietor

An individual who owns and operates a business alone, bearing sole responsibility for its debts and obligations.