Arbitrators' Decisions, as Long as They Are Based on Interpretation

question 33

True/False

Arbitrators' decisions, as long as they are based on interpretation of the contract, are final and binding and are not questioned by the courts.

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Definitions:

Time of Attachment

The point at which an interest, typically a security interest, becomes legally binding on the asset to which it attaches.

Right of Redemption

A legal right that allows a debtor to reclaim their property or mortgaged estate after paying off their debts, even after foreclosure.

Deficiency Judgment

A judgment against a debtor for the amount of a debt remaining unpaid after collateral has been repossessed and sold.

Floating Lien

A type of security interest or lien that attaches to assets that are subject to change in quantity and value.