LS283 Lecture Notes - Lecture 3: Alternative Dispute Resolution, Garnishment
24 Jan 2019
School
Department
Course
Professor
Document Summary
Review concepts relating to dispute resolution (for legal conflicts) as they feed into the question of risk management. How should you deal with them if you can"t. Various ways to attempt to resolve business disputes of a legal nature from least to most formal: "alternative" - an approach other than formal litigation in the established court system (i. e. negotiation, mediation, arbitration) Vast majority of disputes in business are resolved without formal litigation. Most common method for addressing legal disputes is likely the one the people will regularly overlook if asked to identify the various methods. Key considerations that historically drove alternative dispute mechanisms. Key considerations that historically drove alternative dispute mechanisms (other than litigation) are: The cost of handling legal disputes can be very high. Time spent and emotional toll can be significant. The outcome of litigation can almost never be predicted with certainty.
