Which of the following statements is generally true about arbitration? Group of answer choices Courts may set aside an arbitration award only if the arbitration involved some degree of corruption or fraud. Arbitration is generally more costly and more formal than litigation. Arbitration does not produce a final decision. Next

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Mclean

Business

29 July, 21:18

Which of the following statements is generally true about arbitration? Group of answer choices Courts may set aside an arbitration award only if the arbitration involved some degree of corruption or fraud. Arbitration is generally more costly and more formal than litigation. Arbitration does not produce a final decision. Next

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Answers (1)

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Stella Bradshaw · Answer 1

The correct answer is letter "A": Courts may set aside an arbitration award only if the arbitration involved some degree of corruption or fraud.

Explanation:

Arbitration is a private process in which two parties of a dispute accept a third party will be in charge of coming up to a resolution for their case after they presented their evidence. The arbitrator makes a decision based on that information with the consent of both parties. Arbitration is a form of resolving a dispute without taking the case to a trial.

If the arbitration is binding for cases related to corruption or fraud, a court can set aside an award in the form of money, the restriction or application of certain measures in favor of the affected party.