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Chapter 3
N/A
12
Business
Undergraduate 3
10/14/2012

Additional Business Flashcards

 


 

Cards

Term
Alternative dispute resolution
Definition
The resolution of disputes in ways other than those involved in the traditional judicial process.
Term
American Arbitration Association
Definition
The major organization offering arbitration service in the United States.
Term
Arbitration
Definition
The settling of a dispute by submitting it to a disinterested third party (other than a court); who renders a decision.
Term
Arbitrator
Definition
A neutral third party or a panel of experts
Term
Award
Definition
In the context of litigation, the amount of money awarded to a plaintiff in a civil lawsuit as damages.
Term
Choice-of-law clause
Definition
A clause in a contact designating the law that will govern the contract.
Term
Early neutral case evaluation
Definition
A form of alternative dispute resolution in which a neutral third party evaluates the strengths and weakness of the disputing parties positions.
Term
Facilitation
Definition
A third party assists disputing parties in reconciling their differences.
Term
Facilitation
Definition
A third party assists disputing parties in reconciling their differences.
Term
Mediation
Definition
A method of settling disputes outside of court by using the services of a neutral third party, called a mediator.
Term
Mediator
Definition
Works with both sides in a dispute to facilitate a resolution.
Term
Mini-Trial
Definition
A private proceeding in which each party to a dispute argues its position before the other side and vice versa.
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