Regarding arbitration,which of the following statements is true?
A)historically, arbitration has been used to resolve disputes over contractual rights
B)arbitrators' decisions are usually advisory and not considered final
C)arbitrators have less control over the outcomes of disputes than do mediators.
D)arbitration is always more costly and time-consuming than litigation
E)none of these

Question

Quizplus · Accepted Answer

Historically, arbitration has been used to resolve disputes over contractual rights. This remains one of the primary uses of arbitration today. Option B is incorrect as the arbitrator's decision is considered final and binding in many cases. Option C is incorrect as arbitrators have more control over the outcomes of disputes compared to mediators; they have the power to make binding decisions. Option D is incorrect as arbitration is often less costly and time-consuming than litigation.

Regarding Arbitration,which of the Following Statements Is True