Which of the Following Statements Is True

question 163

Multiple Choice

Which of the following statements is true?

• A) Use of ADR precludes parties from litigating.
• B) Mediators have the power to enforce decisions.
• C) The public is entitled to know the result of mediated cases.
• D) The rules of precedent apply to arbitration hearings.
• E) ADR methods are less costly than adjudication.

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Definitions:

Partnership

An official business arrangement where several individuals jointly manage the business and divide the profits among themselves.

Articles of Organization

Official papers submitted to state authorities to formally establish a limited liability company (LLC).

Limited Liability Company

A business structure that combines the pass-through taxation of a partnership with the limited liability of a corporation.

Certificate of Authority

A certificate of authority is an official document granting a company the license to do business in a particular jurisdiction outside of its original registration.