Voluntary/ Contract-Based Arbitration The contract arising from Randolph\'s purc

Question

Voluntary/ Contract-Based Arbitration

The contract arising from Randolph's purchase and financing of a mobile home contained an arbitration clause covering all disputes that might arise. When a dispute arose, Randolph filed a lawsuit in federal court alleging violations of the Truth-in-Lending Act and the Equal Credit Opportunity Act. Randolph claimed the arbitration agreement was unenforceable, since it did not specify what Randoplh might have to pay associated with an arbitration proceeding. Is an arbitration agreement that doesnt specify anything about costs enforceable? Why?

Explanation / Answer

yes, an arbitration agreement do not explain the compolsury payments or costs associated with the agreement. it explains the process and obligations of two parties to the agreement. what is the obligation of one party towards opposite party, if any party fails to meet their obligations, what kind of remedies available to the contrancts, and the signatures of the parties to the contract.

but the agreement can not enforce about the payment or cost.

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