John and Peter-representatives of two negotiating parties from two different countries-bring in an outsider-Paul-to broker a deal between the warring parties.If Peter's opinion binds legally,the process is called _____.

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Arbitration is a process in which an impartial third party is appointed to settle a dispute between two parties. The decision of the arbitrator is legally binding on both parties. In this scenario, since Peter's opinion is legally binding, it resembles the process of arbitration. Mediation involves a third party assisting the parties in reaching a mutually acceptable agreement, but the decision is not legally binding. Picketing and boycotting are forms of protest, and field warehousing is a financial term related to inventory management.

John and Peter-Representatives of Two Negotiating Parties from Two Different