Education > EXAM > GMP 5015-Pat and Don submit their dispute to binding arbitration. (All)

GMP 5015-Pat and Don submit their dispute to binding arbitration.

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Question Question 1 Pat and Don submit their dispute to binding arbitration. A court can set aside the arbitrator’s award if Don is not satisfied with the award. Pat is not satisfied with the aw... ard. the award involves at least $75,000. the award violates public policy or if bad faith was involved. Question 2 Regarding alternative dispute resolution mechanisms, which if the following is a FALSE statement? Mediation is a process by which a neutral third party acts as a conciliator and assists the parties to a dispute to reach a compromise solution. Arbitration is a process whereby the parties to a controversy submit their dispute to a neutral third party, who is not a traditional judge, for a final and binding decision. An arbitrator's decision generally cannot be appealed to the traditional court system if one of the parties is dissatisfied with the determination and thinks the arbitrator got the facts and the law wrong. [Show More]

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