Which Among the Following Dispute Resolution Methods Is Generally Much

question 18

Multiple Choice

Which among the following dispute resolution methods is generally much faster to complete and the least expensive?

• A)Litigation
• B)Arbitration
• C)Mediation
• D)Piercing the veil

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Definitions:

Prospective Bidders

Prospective bidders are individuals or entities that may be interested in submitting a bid or offer to acquire goods, services, or assets that are being offered.

Guarantor

A person or entity that agrees to be responsible for another's debt or obligations if the latter fails to fulfill them.

Gummed Seal

A type of adhesive closure used on envelopes and packages that becomes sticky when moistened.

Heavy Machinery

Large and heavy equipment and machinery used in industries such as construction, mining, and manufacturing for tasks requiring significant power and force.