Which of the following is true in regard to precedent in relation to law in general and arbitration?
A) Like the law in general, the law governing arbitration agreements is not a fixed set of rules or precedents.
B) Unlike the law in general, the law governing arbitration agreements is a fixed set of rules or precedents.
C) Law in general has a fixed set of rules or precedents, but the law governing arbitration is not a fixed set of rules or precedents.
D) Both the law in general and the law of arbitration operate within a fixed set of rules and precedents.
E) Both the law in general and the law of arbitration have a fixed set of precedents except in the area of consumer law in which there is no fixed set of law or precedents.

Question

Quizplus · Accepted Answer

The law, including the law governing arbitration agreements, is dynamic and evolves over time through new legislation, judicial decisions, and interpretations. It is not a fixed set of rules or precedents, allowing for flexibility and adaptation to new circumstances and societal changes.

Which of the Following Is True in Regard to Precedent