You have new items in your feed. Click to view.
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.
26,593,548 questions answered
Popular Conversations
Subtraction and division are derived from addition and ...
Weegy: Addition, subtraction, multiplication and division: can generally be referred to as operations. User: ...
12/7/2016 12:13:41 PM| 2 Answers
Solutions that have more OH- than H ions are?
Weegy: A substance with equal numbers of H ions and OH- ions is a basic solution. FALSE.
12/7/2016 4:41:49 PM| 2 Answers
Which of the following is an advantage of renting? a. ease of ...
Weegy: Ease of mobility is an advantage of renting. User: Which of the following is an advantage of ...
12/7/2016 5:54:53 PM| 2 Answers
Weegy Stuff
S
P
Points 178 [Total 450] Ratings 1 Comments 168 Invitations 0 Offline
S
P
Points 61 [Total 493] Ratings 0 Comments 61 Invitations 0 Offline
S
P
P
Points 48 [Total 727] Ratings 0 Comments 48 Invitations 0 Offline
S
Points 40 [Total 40] Ratings 0 Comments 40 Invitations 0 Offline
S
Points 26 [Total 48] Ratings 0 Comments 16 Invitations 1 Offline
S
Points 16 [Total 292] Ratings 0 Comments 16 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 8 [Total 8] Ratings 0 Comments 8 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 0 [Total 0] Ratings 0 Comments 0 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.