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Arbitration legal definition of arbitration
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the settlement of a dispute by an independent third person, rather than by a court of law. Arbitration allows for claims or grievances to be settled quickly, cost-effectively, privately, and by somebody who is suitably qualified. A contract may include an arbitration clause to be invoked in the case of a dispute. Mediation is a related term. the act or process of arbitrating a process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market ...
Whether or not the Federal Arbitration Act preempted Code of Civil Procedure section 1298.7 relating to construction defect litigation, and whether or not sufficient interstate commerce existed for such preemption were integral issues in Edward D. Basura, Jr., et al., vs. U.S. Home Corporation, (Case No. B151131, Second District Court of Appeal, filed May 31, 2002). The court of appeal reviewed the order by the Los Angeles County Superior Court (Case No. BC240683) in the construction defect litigation filed by Edward Basura and more than 60 other Plaintiffs. The lower court had denied ... Read More
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