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.
19,255,620 questions answered
Popular Conversations
Simplify 3a · 3b ÷ 3c ÷ 3d.
Weegy: Please restate your question. User: Simplify. n 6 · n 5 ÷ n 4 · n 3 ÷ n 2 · n User: Find the quotient. 4 r ...
1/30/2015 7:49:30 AM| 3 Answers
Find the product. (3p 4)3 · (p 2)7
Weegy: The product of (3p^4)^3 * (p^2)^7 is =27p^26 Solution: = 3^3 (p^4)^3 * (p^2)^7 = 27 p^12 * p^14 =27p^26 ...
1/30/2015 7:43:35 AM| 2 Answers
5x + 2y = 5 3x - y = 14 Which of the following equations is not a ...
Weegy: The best answer is B.11y = -55 User: Write the standard form of the line that passes through the given ...
1/30/2015 9:54:50 AM| 2 Answers
even times a number minus the number is -48. Find the number. the ...
Weegy: A.the number is -8 User: The quotient of a number and 2 is the same as the difference of the number doubled ...
1/30/2015 11:08:55 AM| 2 Answers
Simplify the following expression. (x 2)^3
Weegy: May i know what the question is? User: (x + 2)^3 Weegy: The answer is x^2
1/30/2015 2:55:16 PM| 2 Answers
67+8
Weegy: Hi! Sorry but I'm not the previous agent that you were having conversations with. What do you want to know about ...
1/30/2015 7:56:16 PM| 2 Answers
Weegy Stuff
S
L
Points 2094 [Total 2115]| Ratings 0| Comments 2094| Invitations 0|Offline
S
L
P
L
P
Points 1473 [Total 6750]| Ratings 0| Comments 1473| Invitations 0|Offline
S
1
L
1
L
P
P
L
P
P
Points 767 [Total 15778]| Ratings 1| Comments 757| Invitations 0|Offline
S
L
Points 438 [Total 1119]| Ratings 2| Comments 418| Invitations 0|Offline
S
1
L
L
Points 347 [Total 7047]| Ratings 1| Comments 337| Invitations 0|Online
S
Points 121 [Total 136]| Ratings 1| Comments 111| Invitations 0|Offline
S
P
C
L
P
L
1
Points 92 [Total 6680]| Ratings 1| Comments 82| Invitations 0|Offline
S
L
Points 85 [Total 1646]| Ratings 0| Comments 85| Invitations 0|Offline
S
Points 63 [Total 445]| Ratings 0| Comments 63| Invitations 0|Offline
S
Points 57 [Total 58]| Ratings 0| Comments 57| Invitations 0|Offline
Home | Contact | Blog | About | Terms | Privacy | Social | ©2014 Purple Inc.