Notice: Payments for answers will end 4/10/2017. Click for more info.
You have new items in your feed. Click to view.
Question and answer
Q: What laws govern arbitration in the U.S.?
A: 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.
26,494,017 questions answered
Popular Conversations
What is the purpose of the mantra during meditation? A. It ...
Weegy: The purpose of the mantra during meditation is: It allows you to concentrate on one peaceful sound. User: ...
11/12/2017 11:54:48 AM| 3 Answers
The following two sentences are saying the same thing. Emily, my ...
Weegy: The following two sentences are saying the same thing. Emily, my daughter, is in sixth grade. Emily, my daughter ...
11/13/2017 12:26:02 PM| 3 Answers
Which one of the following refers to all of the physical and chemical ...
Weegy: Endorphins are neurotransmitters that pass brain signal from one neuron to another. User: Which one of the ...
11/12/2017 6:31:18 AM| 2 Answers
When magma reaches the Earth's surface it's called A. ...
Weegy: The study of the Earth's magnetic field is known as: paleomagnetism. User: What are two of the processes ...
11/21/2017 7:34:39 PM| 2 Answers
Weegy Stuff
S
L
P
Points 176 [Total 301] Ratings 10 Comments 76 Invitations 0 Offline
S
P
L
P
Points 23 [Total 153] Ratings 0 Comments 23 Invitations 0 Offline
S
P
P
L
P
P
Points 20 [Total 1658] Ratings 0 Comments 20 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
S
Points 4 [Total 4] Ratings 0 Comments 4 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
S
Points 1 [Total 1] Ratings 0 Comments 1 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.