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Questions and Answers
What type of ADR method involves parties referring the dispute to one or more appointed persons who review the case and impose a legally binding decision?
In which type of agreements are arbitration clauses usually mentioned?
According to the Arbitration and Conciliation Act, 1996, in what form should the arbitration agreement be?
How is the number of arbitrators determined according to the Arbitration and Conciliation Act, 1996?
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Under which part of the Arbitration and Conciliation Act, 1996, is the enforcement of foreign awards addressed?
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Study Notes
Alternative Dispute Resolution (ADR) Methods
- Arbitration involves parties referring disputes to appointed individuals who review the case and render a legally binding decision.
Arbitration Agreements
- Arbitration clauses are typically included in contracts, including commercial agreements and service contracts, outlining how disputes will be resolved.
Form of Arbitration Agreement
- According to the Arbitration and Conciliation Act, 1996, an arbitration agreement must be in writing, which can include documents, electronic communications, or a record of the parties' intentions.
Number of Arbitrators
- The Arbitration and Conciliation Act, 1996 specifies that the number of arbitrators is to be determined by the parties; in the absence of agreement, the default number is three, unless otherwise stated.
Enforcement of Foreign Awards
- Enforcement of foreign awards is addressed under Part II of the Arbitration and Conciliation Act, 1996, which governs international arbitration agreements and award recognition.
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Description
Test your knowledge of Alternative Dispute Resolution (ADR) with this quiz on the legal aspects of business. Explore methods such as arbitration, conciliation, negotiation, and mediation. Assess your understanding of how ADR offers a way to resolve disputes outside the court, with a focus on the roles and processes involved.
