Which of the Following Is True in Regard to Precedent

question 65

Multiple Choice

Which of the following is true in regard to precedent in relation to law in general and arbitration?

• A) Like the law in general, the law governing arbitration agreements is not a fixed set of rules or precedents.
• B) Unlike the law in general, the law governing arbitration agreements is a fixed set of rules or precedents.
• C) Law in general has a fixed set of rules or precedents, but the law governing arbitration is not a fixed set of rules or precedents.
• D) Neither the law in general nor the law of arbitration has a fixed set of precedents.
• E) Both the law in general and the law of arbitration have a fixed set of precedents except in the area of consumer law in which there is no fixed set of law or precedents.

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Definitions:

Debt to Equity

A financial ratio indicating the relative proportions of shareholders' equity and debt used to finance a company's assets.

Ownership of Partnership

Ownership of a partnership refers to the proportionate share of rights, interests, and responsibilities in a partnership business, held by each partner.

Bonita's Share

A specific portion or allotment of a larger amount or entity that is designated or attributed to a person named Bonita.

Whole Business

A term often used in finance and economics referring to considering all aspects and operations of a business entity as a total entity.