Arbitration Clauses in Contracts Are Generally Unenforceable

question 45

True/False

Arbitration clauses in contracts are generally unenforceable.

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Definitions:

Historical Cost

An accounting principle that assets should be recorded and valued at their original purchase cost.

Future Sacrifice

An expected loss of economic benefits due to commitments or obligations a business has entered into.

Liability

A financial obligation or debt owed by a business to another entity, typically due for repayment in the future.

Company

A legal entity formed by individuals, stockholders, or shareholders, with the purpose of operating for profit.