A Type of ADR in Which Lawyers for All Parties

question 1

Multiple Choice

A type of ADR in which lawyers for all parties present their arguments to a neutral third party,who then offers a nonbinding opinion as to what the verdict would be is called:

• A)Med-arb.
• B)Private trial.
• C)Mediation.
• D)Minitrial.
• E)Arbitration.

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Definitions:

Credit Report

A detailed report of an individual's credit history prepared by a credit bureau and used by lenders to determine a loan applicant's creditworthiness.

Aging of Receivables

The process of categorizing accounts receivable according to the length of time an invoice has been outstanding for better management of credit risk.

Extending Credit

The act of allowing a buyer to purchase goods or services now and pay for them later, typically involving terms and conditions regarding repayment.

Cash Flow

The total amount of money being transferred into and out of a business, particularly in terms of liquidity and financial planning.