Arbitration clauses require agreement wherein the concerned parties agree
A) on who is right and who is wrong.
B) on the validity of the litigation issues.
C) to abide by the awards resulting from the arbitration.
D) to not hire a legal counsel to represent them.
E) to not name the arbitrators.

Question

Quizplus · Accepted Answer

Arbitration clauses typically require the parties involved to agree to abide by the awards resulting from the arbitration process. This means that they commit in advance to accept the decision made by the arbitrators as final and binding, often as an alternative to going through the court system.

Arbitration Clauses Require Agreement Wherein the Concerned Parties Agree