In the Absence of a Statute, the Rights and Duties

question 70

Multiple Choice

In the absence of a statute, the rights and duties of the parties to a submission for arbitration are described and limited by:

• A) the Constitution.
• B) de novo review.
• C) class-action certification.
• D) arbitrability.
• E) the agreement.

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Definitions:

Demand Deposit

A deposit in a commercial bank or other financial intermediary against which checks may be written.

NOW Account

A type of bank account that offers the benefits of a savings account with the convenience of a checking account, allowing for interest to be earned on deposited funds.

Corporate Stock

Shares representing ownership in a corporation, giving shareholders a claim on part of the company's assets and earnings.

Credit Card

A financial instrument that allows the cardholder to borrow funds from a pre-approved limit to pay for goods and services.