Question 1

How is arbitration preferable to litigation, and what are criticisms of arbitration as compared to litigation?

Accepted Answer

Arbitration is preferable to litigation

Question 2

Which of the following is an ADR method in which a referee is selected and paid by the disputing parties to offer a legally binding judgment in a dispute?

Accepted Answer

A)  Summary jury trial 
B)  Minitrial 
C)  Early neutral case evaluation 
D)  Private trial 
E)  Neutral submission 
A)  Summary jury trial 
B)  Minitrial 
C)  Early neutral case evaluation 
D)  Private trial 
E)  Neutral submission

Question 3

"Lawn maintenance." Bob and Susan ran a lawn maintenance company for several years. They, however, encountered a dispute regarding the allocation of profit and agreed to discontinue their business. They cannot agree on a number of issues involving not only profits, but also winding up the business, disposing of equipment, and other matters. They agreed to hire an arbitrator to settle their disputes. Bob suggested that they use a local lawyer named George to arbitrate the matter, and Susan agreed. Susan had some medical problems and requested that the arbitration be postponed for a short time. Bob objected to her request. George would not agree stating to Susan's request for a postponement stating that any arbitration proceeding must be heard within 30 days and that the time period was nearly over. George conducted the arbitration hearing. He refused to hear any evidence from any witnesses explaining that he only had the authority to hear testimony from Bob and Susan. Therefore, Susan was not able to present testimony of a property appraiser she had hired. George proceeded to rule in favor of Bob on all counts. Susan was very discouraged and discussed the situation with her friend Sally. Sally said "My goodness! Didn't you know that George and Bob play golf together every week, that Bob is married to George's cousin, and that Bob has loaned money to George in the past?" Susan immediately calls George and asks him about his connection with Bob. George acknowledges those connections. He tells Sally, however, that he was perfectly fair and that there is nothing she can do. The Federal Arbitration Act applies.
-Which of the following is accurate regarding George's refusal of a continuance based upon Susan's medical problem?

Accepted Answer

A)  George's statement that a hearing must be held within 30 days was correct. 
B)  George was prohibited by law from granting a continuance over Bob's objection. 
C)  George was incorrect regarding the time in which a hearing must be held because under the Federal Arbitration Act, the applicable time period is 60 days. 
D)  Under the Federal Arbitration Act, an arbitration proceeding may not be postponed based upon illness. 
E)  George was probably wrong in refusing the continuance, and that could present a basis upon which to set aside his award. 
A)  George's statement that a hearing must be held within 30 days was correct. 
B)  George was prohibited by law from granting a continuance over Bob's objection. 
C)  George was incorrect regarding the time in which a hearing must be held because under the Federal Arbitration Act, the applicable time period is 60 days. 
D)  Under the Federal Arbitration Act, an arbitration proceeding may not be postponed based upon illness. 
E)  George was probably wrong in refusing the continuance, and that could present a basis upon which to set aside his award.

Question 4

When is an arbitrator's decision called an "award"?

Accepted Answer

A)  Always. 
B)  Only if one party completely wins and there is no split decision. 
C)  Never. 
D)  Only if a money award is involved. 
E)  Only if both parties had lawyers because that terminology makes it easier for the lawyers to be paid. 
A)  Always. 
B)  Only if one party completely wins and there is no split decision. 
C)  Never. 
D)  Only if a money award is involved. 
E)  Only if both parties had lawyers because that terminology makes it easier for the lawyers to be paid.

Question 5

Which of the following is true regarding the use of arbitration and mediation in e-commerce cases?

Accepted Answer

A)  Increasingly, litigants are using arbitration, but not mediation, to resolve disputes in e-commerce cases. 
B)  Increasingly, litigants are using mediation, but not arbitration, to resolve disputes in e-commerce cases. 
C)  Increasingly, litigants are using arbitration and mediation to resolve disputes in e-commerce cases. 
D)  Arbitration is allowed by federal law in e-commerce cases, but mediation is not allowed. 
E)  Mediation is allowed by federal law in e-commerce cases, but arbitration is not allowed. 
A)  Increasingly, litigants are using arbitration, but not mediation, to resolve disputes in e-commerce cases. 
B)  Increasingly, litigants are using mediation, but not arbitration, to resolve disputes in e-commerce cases. 
C)  Increasingly, litigants are using arbitration and mediation to resolve disputes in e-commerce cases. 
D)  Arbitration is allowed by federal law in e-commerce cases, but mediation is not allowed. 
E)  Mediation is allowed by federal law in e-commerce cases, but arbitration is not allowed.

Question 6

An arbitrator is more likely to issue a compromise decision than a judge.

Accepted Answer

A) True 
 B)False

Exam 4: Alternative Dispute Resolution

How is arbitration preferable to litigation, and what are criticisms of arbitration as compared to litigation?

Which of the following is an ADR method in which a referee is selected and paid by the disputing parties to offer a legally binding judgment in a dispute?

When is an arbitrator's decision called an "award"?

Which of the following is true regarding the use of arbitration and mediation in e-commerce cases?

An arbitrator is more likely to issue a compromise decision than a judge.

An Introduction to Dynamic Business Law

Business Ethics

The US Legal System

Constitutional Principles

International and Comparative Law

Crime and the Business Community

Tort Law

Negligence and Strict Liability

Product Liability

Liability of Accountants and Other Professionals

Intellectual Property

Introduction to Contracts

Agreement

Consideration

Capacity and Legality

Legal Assent

Contracts in Writing

Third-Party Rights to Contracts

Discharge and Remedies

Introduction to Sales and Lease Contracts

Title, Risk of Loss, and Insurable Interest

Performance and Obligations Under Sales and Leases

Remedies for Breach of Sales and Lease Contracts

Warranties

Negotiable Instruments: Negotiability and Transferability

Negotiation, Holder in Due Course, and Defenses

Liability, Defenses, and Discharge

Checks and Electronic Fund Transfers

Secured Transactions

Other Creditors Remedies and Suretyship

Bankruptcy and Reorganization

Agency Formation and Duties

Liability to Third Parties and Termination

Forms of Business Organization

Partnerships: Nature, Formation, and Operation

Partnerships: Termination and Limited Partnerships

Corporations: Formation and Financing

Corporations: Directors, Officers, and Shareholders

Corporations: Mergers, Consolidations, Terminations

Corporations: Securities and Investor Protection

Employment and Labor Law

Employment Discrimination

Administrative Law

Consumer Law

Environmental Law

Antitrust Law

The Nature of Property, Personal Property, and Bailments

Real Property

Landlord-Tenant Law

Insurance Law

Wills and Trusts

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