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
Ask a question
Not a good answer? Get an answer now. (FREE)
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
Home | Contact | Terms | Privacy | Social | ©2013 Purple Inc.
Popular Conversations
The Cultural Revolution was a plan to a. make Chinese culture popular ...
Weegy: The Cultural Revolution was a plan to replace ancient culture with a socialist culture. As well as removing ...
4/15/2014 2:15:34 PM| 13 Answers
1. Simplify the expression. 22 + (32 – 42) User: 3. Evaluate the ...
Weegy: 4y + 5 = ? 31 4y = -31 - 5 4y = -36 y = -36/4 y = -9 User: Solve the equation. Check your answer. 3x – 7 = ...
4/15/2014 4:20:45 PM| 4 Answers
What is the slope of the line that passes through the points (-2, ...
Weegy: (-3)^-2 = 1/(-3)^2 = 1/9 User: What is the slope of the line that passes through the points (3, -2) and (9, ...
4/15/2014 6:30:47 AM| 3 Answers
what is anthropology
Weegy: Anthropology is the study of humankind, past and present, that draws and builds upon knowledge from social and ...
4/16/2014 3:13:10 AM| 3 Answers
Twenty-seven is 25% of a0.
Weegy: 15% of 25 is 3.75 User: what is 27 times 4 Weegy: You can factor the second part by using factors of 27 that ...
4/16/2014 3:46:34 AM| 3 Answers
All of the following were achievements of the Sumerian culture ...
Weegy: All of the following were achievements of the Sumerian culture except the Great Pyramid.
4/15/2014 6:46:30 AM| 2 Answers
children
Weegy: what is your question about chil? User: children women the king men played the most vital musical role in ...
4/15/2014 12:48:26 PM| 2 Answers
Weegy Stuff
S
L
P
C
P
C
1
L
P
C
Points 1292 [Total 9173]| Ratings 0| Comments 1292| Invitations 0|Offline
S
L
P
C
L
P
C
Points 1240 [Total 6627]| Ratings 0| Comments 1240| Invitations 0|Online
S
1
L
1
L
P
Points 389 [Total 7066]| Ratings 1| Comments 379| Invitations 0|Offline
S
L
Points 341 [Total 2788]| Ratings 2| Comments 311| Invitations 1|Offline
S
Points 138 [Total 554]| Ratings 0| Comments 138| Invitations 0|Offline
S
1
Points 137 [Total 467]| Ratings 3| Comments 107| Invitations 0|Offline
S
R
Points 96 [Total 208]| Ratings 5| Comments 36| Invitations 1|Offline
S
Points 92 [Total 736]| Ratings 1| Comments 82| Invitations 0|Offline
S
Points 83 [Total 83]| Ratings 4| Comments 23| Invitations 2|Offline
S
P
C
L
P
Points 76 [Total 3921]| Ratings 0| Comments 76| Invitations 0|Offline