Arbitration is an alternative dispute resolution method which is adopted by the parties in dispute to settle it out as an alternative to legal course of action. In arbitration, the parties in dispute submit their cases to an independent or neutral party called the arbitrator for resolution. Arbitration is recognized by the United States federal law as a substitute for formal law.
In United States of America, the Federal Arbitration Act provides for judicial laws which govern the private settlement of dispute through arbitration. The Federal Arbitration Law was enacted in the year 1925. The legal framework laid down by Federal arbitration act is applicable to both State and Federal court.
In case the parties in dispute agrees to approach an independent arbitrator, then the resolution awarded by the arbitrator is legally binding provided the resolution proceeding is equivalent in fairness as compared to court proceedings. However, before the resolution becomes legally binding it should be confirmed in the court of law.
The United States law stipulates that the award granted should be confirmed in a court of law within one year of the grant whereas the objection can be raised by the losing party within three months of the award of the contract. However, the grounds of review for the arbitration award remain the same and cannot be expanded even if all the parties in dispute agree to do so.
In 2007, Arbitration Fairness Act was introduced in the US Congress but the bill was not passed.
Buying and selling a home can be a difficult task if the parties are not prepared and make costly mistakes. On the other hand, successfully buying or... Read more
A Legal remedy is one in which a court of law levies a penalty or enforces a right or brings into force some other court order during discharge of... Read more
A large number of people in the U.S. trade in the stock market. They buy and sell shares, bonds and other financial instruments. For each of these... Read more
Music law is law defining the legal integrities involved in music industry and can be extended to certain areas falling under entertainment industry.... Read more
A trade secret is a formula, process, methodology, ingredient, recipe or information which gives someone economical advantage or market edge over its... Read more
As per the guarantees/warranties law in the U.S., there are different kinds of guarantees and warranties. When buying goods or services, the... Read more
Construction law is a wide topic including sub heads such as regulating and licensing contractors, checking and inspecting construction projects,... Read more
A legal permit to do something is called a license. For instance, for driving a vehicle, the driver should ... Read more
There used to be a lot of discrimination in the U.S., on the basis of race, color and gender. The government at that time felt the need for a civil... Read more
Definition of birth injury Injury caused by trauma to a baby or his mother due to negligence, medical malpractice or law in hospital policy during... Read more
After more than sixty years, the communication act of 1934 was amended in the year 1996 and The Telecommunication Act, 1996 was formed. For the first... Read more
In United States of America, litigation procedures have defined steps and all litigation filed goes through those steps. However, the parties are at... Read more
A civil law suit is one which falls under the purview of Federal rules of civil procedure and involves matters which arise out of disputes which are... Read more
A Patent law is law to protect the inventor from unlawful copying, selling, offering to sale or producing goods which are patented by the inventor.... Read more
Trademarks laws in United States were first enacted in 1881 and then underwent major revision in 1905 and then again 1946. In 1946, US congress... Read more
The landlord and tenant laws are different in different countries. If there is a disagreement between a landlord and a tenant, it is advised to... Read more
The Defective Products Law also known as the products liability is a regulation that holds all parties involved in the manufacture and distribution... Read more
We all know that it is criminal to damage others property especially with a particular motive. Property, by definition is something that is owned by... Read more
In the U.S., there are specific education laws which relate to schools and the boards of these schools responsible for educating children, even those... Read more
Definition: Brain injury is a physical trauma caused to the brain resulting in disruption to the normal functioning of the brain. Most often than... Read more
Computer law dictates the legal provisions governing the data stored and transmitted between computers. In today’s world there is lot of data... Read more
When planning to purchase a real property, nearly every buyer opts to take a mortgage loan to pay atleast half the amount through loan. It is utmost... Read more
In United States of America, litigation procedures have defined steps and all litigation filed goes through those steps. However, the parties are at... Read more
The social security program in the U.S., which includes social welfare and social insurance programs is governed by the Social Security Act which was... Read more
When planning to buy a land or real property, most of the buyers prefer taking out a mortgage loan. In order to receive this loan, the buyer has to... Read more
What is Lemon Law? There are several cases where people buy cars and other automobiles with great enthusiasm only to discover that the purchased... Read more
Libel and slander together represent the defamation law under the US legal system. The offence occurs when any person or an ... Read more
Traffic laws are a must to enforce traffic discipline. Most countries have formulated their own traffic laws which lay down traffic rules and list... Read more
What is asbestos? Asbestos is a naturally occurring fiber that has various uses in fabricating materials used in the construction industry. It is a... Read more
Drug-toxic chemicals law also called toxic tort is a kind of law which offers protection against illness or injury caused due to exposure to a drug... Read more