Which of the following characterizes arbitration?
A) It is the liability of a state for the injuries that it causes to foreign persons.
B) It is the process by which parties to a dispute submit their differences to the judgment of an impartial third person or group selected by mutual consent.
C) It is the basic rights intended to protect all people from cruel and inhumane treatment, threats to their lives, and persecution.
D) It is justice applied in circumstances not covered by rules of law.

Question

Quizplus · Accepted Answer

Arbitration is the process by which parties to a dispute submit their differences to the judgment of an impartial third person or group selected by mutual consent. This person or group, known as an arbitrator or panel of arbitrators, makes a binding decision that is enforceable under law.

Which of the Following Characterizes Arbitration