ARBITRATION CASE Meaning and
Definition
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Arbitration case refers to a legal dispute or conflict which is resolved through the process of arbitration. In this context, arbitration can be defined as a method of alternative dispute resolution (ADR) in which two or more parties voluntarily agree to have their disagreement settled by an impartial third party, known as an arbitrator or an arbitration panel. The arbitrator is usually chosen by mutual agreement between the parties or appointed according to the rules specified in the arbitration agreement.
An arbitration case typically arises when parties involved in a dispute opt to resolve their differences outside of traditional courtroom litigation. It is commonly used in various sectors, including commercial, labor, construction, and international disputes. The process of arbitration allows the parties to present their arguments, evidence, and witnesses before the arbitrator, who then evaluates the case and makes a legally binding decision, known as an arbitral award.
The arbitrator's decision in an arbitration case is based on relevant laws, contractual agreements, and the facts presented by the parties involved. Arbitration is often chosen for its perceived advantages, such as increased privacy, quicker resolution, flexibility in scheduling, and the ability to choose an arbitrator with specialized knowledge in the subject matter of the dispute. The final award is typically enforceable by law and can serve as the basis for resolving the conflict between the parties involved in the arbitration case.
Common Misspellings for ARBITRATION CASE
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Etymology of ARBITRATION CASE
The word "arbitration" is derived from the Latin word "arbitratio", which means "judgment" or "decision". It traces back to the Latin verb "arbiter", meaning "to judge" or "to decide". The suffix "-tion" is used to form nouns indicating an action or process.
The word "case" comes from the Latin word "casus", which means "fall" or "event". It has an extended meaning of "instance" or "occasion". In legal contexts, "case" refers to a matter or situation under consideration by a court or other legal authority.
So, when combined, "arbitration case" refers to a matter or dispute that is subject to judgment or decision by an arbitrator or arbitration panel.
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