Rights Arbitration Applies to Interpreting and Applying Terms of an Existing

question 59

True/False

Rights arbitration applies to interpreting and applying terms of an existing contract.

---

Definitions:

Legally Enforceable

A term describing a contract or obligation that is recognized by law, meaning it can be upheld in court.

Oral Agreement

An unwritten contract where the terms have been agreed upon verbally rather than in writing, yet can still be legally binding under certain conditions.

Enforceable

Capable of being imposed or carried out by legal process or authority, often referring to contracts or agreements.

Executor

An individual appointed in a will to administer the estate of the deceased, ensuring that their wishes are carried out.