BUL 3130 Chapter Notes - Chapter 4: Alternative Dispute Resolution, Arbitration Clause, Arbitration
Document Summary
Chapter 4: alternative dispute resolution: alternative dispute resolution (adr)- the resolution of legal disputes through methods other than litigation, such as negotiation, mediation, arbitration, summary jury trials, mini-trials, neutral case evaluations, and private trials. Organizations use adr to resolve disputes involving contracts, insurance, labor, the environment, securities, technology, and international trade. Adr give participants more control over the resolution of the dispute. Business avoids having the dispute used as a precedent for future disputes. Less adversarial than litigation: negotiation- a bargaining process in which disputing parties interact formally, either. Judge or jury not involved with or without lawyers, to attempt to resolve their dispute. Parties voluntarily select a neutral third party to help them work together and resolve the dispute. Mediation concludes when an agreement between the parties is reached. Allows parties to preserve their relationship throughout the dispute. Parties leave mediation with a better understanding of the opposing party. Parties to mediation have a high level of autonomy.
