20. Jim files a suit against Kary. Before going to trial, the parties meet, with
ID: 392072 • Letter: 2
Question
20. Jim files a suit against Kary. Before going to trial, the parties meet, with their attorneys to represent them, to present their dispute in a hearing before a third party who is not a judge but who renders a legally binding decision. This is a. arbitration. b. litigation. c. mediation. d. negotiation. 21. Niche Boutique Corporation and Paulina agree to resolve their dispute in arbitration. The arbitrator's decision is called a. a conclusion of law. b. a finding of fact c. an award. d. a verdict. 22. Transnational Corporation and UniShipping, Inc., agree to a contract that includes an arbitration clause. If a dispute arises, a court having jurisdiction may a. monitor any arbitration until it concludes. b. order an arbitrator to rule in a particular way c. order a party to bring the dispute to court. d. order a party to submit to arbitration, as required by the parties' contract. 23. Dick submits his claim against EZ-Bid Online Auction Co. to FairSettle.com, a private, online dispute resolution forum, who will try to mediate the dispute. At any time, a decision to take this dispute to a court may be made by a. Dick only b. Dick or EZ-Bid. c. EZ-Bid only. d neither Dick nor EZ-Bid. 4. Which of the following forms of Alternative Dispute Resolution involves a neutral third party working with the parties, either together or in caucus, to help them come up with a voluntary settlement agreement that makes both parties happy? a. arbitration b. mediation c. mini-trial d. caucus hearing Ace Company's Chief Financial Officer manages the company's retirement benefit plan. With respect to this plan, the Chief Financial Officer has 5. a. a fiduciary duty. b. a subsidiary duty c. a utilitarian duty. d. no dutyExplanation / Answer
20. c. Mediation
This is the process of settling conflicts and disputes in the presence of an individual who is neutral.
21. c. An Award
This is a legally binding decision known as an award.
22. d. Order a party to submit to arbitration as required by the parties contract
The court will order the parties to abide by the contract.
23. b.
Each party has the right to appeal the verdict to court
24. b. Mediation
25. Fiduciary duty
As it is based on legal trust and relationship
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