Question and answer
What laws govern arbitration in the U.S.?
In United States law, the Federal Arbitration Act is a statute that provides for judicial facilitation of private dispute resolution through arbitration. It applies in both state courts and federal courts, as was held in Southland Corp. v. Keating. [ It applies where the transaction contemplated by the parties "involves" interstate commerce and is predicated on an exercise of the Commerce Clause
powers granted to Congress in the U.S. Constitution. The Federal Arbitration Act (found at 9 U.S.C. Section 1 et seq.), enacted in 1925, provides for contractually-based compulsory and binding arbitration, resulting in an arbitration award entered by an arbitrator or arbitration panel as opposed to a judgment entered by a court of law. In an arbitration the parties give up the right to an appeal on substantive grounds to a court. The Federal Arbitration Act requires that where the parties have agreed to arbitrate, they must do so in lieu of going to court, provided that the proceeding is fundamentally fair—that is, equivalent in fairness to the public courts. Once an award is entered by an arbitrator or arbitration panel, it must be "confirmed" in a court of law. Once confirmed, the award is then reduced to an enforceable judgment, which may be enforced by the winning party in court, like any other judgment. Under the Federal Arbitration Act awards must be confirmed within one year; while any objection to an award must be challenged by the losing party within three months. An arbitration agreement may be entered "prospectively"—that is, in advance of any actual dispute; or may be entered into by disputing parties once a dispute has arisen. The Supreme Court ruled in Hall Street Associates, L. L. C. v. Mattel, Inc. that the grounds for judicial review specified in the FAA may not be expanded, even if the parties to the arbitration agreement agree to allow expanded review of the decision. [edit] ]
Expert answered|Shanaaz1986|Points 170|
Question
Asked 4/16/2012 11:38:41 AM
0 Answers/Comments
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
22,003,446 questions answered
Popular Conversations
Locate the verbal in the following sentence and identify its ...
Weegy: Check the turkey to see if it is done. Infinitive: To see; Use: Adverb. User: Locate the infinitive and ...
9/3/2015 4:37:24 PM| 4 Answers
A solution should be _____ in order to prevent water gain or water ...
Weegy: If an animal cell shrinks, it was probably placed in a hypertonic solution. User: The fourth level of cell ...
9/3/2015 8:31:00 AM| 3 Answers
Fishing is the leading industry in ...
9/3/2015 9:21:23 AM| 2 Answers
As a sales person for Tan's Bakery, Yolanda is paid a straight ...
Weegy: Yolanda's total gross pay is $12,741.3. It is where 5.3% of $12,100 is $641.3, then add it to $12,100, resulting ...
9/3/2015 11:43:02 AM| 2 Answers
4x3 – 3x2 + x + 3x3
Weegy: x=4
9/3/2015 12:54:05 PM| 2 Answers
A person suffering from schizophrenia loses contact with reality.
Weegy: What is your question?
9/3/2015 2:13:49 PM| 2 Answers
Locate the complete adjective phrase and the noun modified. I heard ...
Weegy: Please indicate the sentence so I can give you the answer. Thanks! User: Locate the complete adjective phrase ...
9/3/2015 4:46:53 PM| 2 Answers
In a short story, any pronoun that indicates a person or thing spoken ...
Weegy: In a short story, any pronoun that indicates a person or thing spoken of is given in the third person. ] ...
9/3/2015 6:14:06 PM| 2 Answers
Which listening barrier is interrupting effective communication in ...
Weegy: Taylor: I just found out my dad got us tickets for the football game! Morgan: I don't watch professional sports ...
9/3/2015 8:42:13 PM| 2 Answers
Weegy Stuff
S
1
L
L
P
R
Points 144 [Total 9467]| Ratings 0| Comments 144| Invitations 0|Offline
S
L
L
P
1
Points 122 [Total 9432]| Ratings 1| Comments 112| Invitations 0|Offline
S
Points 77 [Total 382]| Ratings 0| Comments 77| Invitations 0|Offline
S
Points 49 [Total 833]| Ratings 0| Comments 49| Invitations 0|Offline
S
Points 39 [Total 572]| Ratings 0| Comments 39| Invitations 0|Offline
S
Points 32 [Total 32]| Ratings 1| Comments 12| Invitations 1|Offline
S
Points 24 [Total 29]| Ratings 1| Comments 4| Invitations 1|Offline
S
Points 20 [Total 208]| Ratings 0| Comments 20| Invitations 0|Offline
S
Points 10 [Total 10]| Ratings 0| Comments 0| Invitations 1|Offline
S
Points 9 [Total 233]| Ratings 0| Comments 9| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2015 Purple Inc.