What is a provision in a contract mandating that all disputes arising under the contract be settled by arbitration called?

Which of the following is true regarding the use of legal counsel at arbitration proceedings? 
A. It is up to each of the parties. They may have legal counsel or they may not.
B. Parties may have legal counsel in some types of proceedings, but not in others.
C. Parties may have legal counsel if they had legal counsel in mediation proceedings. Otherwise, legal counsel may not be used.
D. Individuals may have legal counsel, but corporations may not.
E. Corporations may have legal counsel, but individuals may not.

The arbitrator typically provides a decision within ____ days of an arbitration hearing. 
A. 10
B. 25
C. 30
D. 90
E. 120

When is an arbitrator's decision called an "award"? 
A. Always.
B. Only if one party completely wins and there is no split decision.
C. Never.
D. Only if a money award is involved.
E. Only if both parties had lawyers. That terminology makes it easier for the lawyers to be paid.

Which of the following are reasons that an arbitration award may be set aside under the Federal Arbitration Act? 
A. The arbitrator failed to make a final and definite award.
B. The award was the result of fraud.
C. The arbitrator displayed bias.
D. All the above.
E. None of the above. There is no Federal Arbitration Act.

Which of the following is true regarding arbitration in Brazil? 
A. Brazilian lawmakers have reformed several articles in the Brazilian Civil Code to increase the practice of arbitration.
B. Parties must sign an "arbitration commitment" during arbitration proceedings which renders the outcome of the arbitration comparable to a decision handed down by the judiciary branch.
C. Parties no longer need to appeal to the judiciary branch after an arbitration hearing.
D. All the above.
E. None of the above. Arbitration is outlawed in Brazil by federal law.

According to the text, positive points of arbitration involve(s) which of the following?
A. Arbitrators are assigned; so parties do not have to pick them.
B. Arbitration is generally less expensive than litigation.
C. Arbitrators are bound by the same rules as judges in applying precedent.
D. Arbitrators are assigned; hence parties do not have to pick them, and arbitration is generally less expensive than litigation.
E. Arbitrators are assigned; so parties do not have to pick them, arbitration is generally less expensive than litigation, and arbitrators are bound by the same rules as judges in applying precedent.

According to the text, which of the following are criticisms of arbitration? 
A. That more panels are being used increasing cost and scheduling difficulties.
B. That companies can more easily hide misdoing.
C. That parties give away rights without realizing it when agreeing to arbitration.
D. All the above.
E. None of the above. No criticisms of arbitration were discussed.

What is a provision in a contract mandating that all disputes arising under the contract be settled by arbitration called? 
A. A binding arbitration clause
B. A submission agreement
C. A suggested arbitration section
D. A nonbinding ADR section
E. A binding mediatory clause

If a contract does not provide for arbitration, parties may submit a specific dispute involving a contractual provision to arbitration through the use of a ______. 
A. Binding arbitration clause
B. Submission agreement
C. Binding mediatory clause
D. Suggested ADR resolution clause
E. The parties may not submit a specific dispute to arbitration if the contract does not provide for arbitration.

Which of the following is true regarding class arbitration? 
A. The U.S. Supreme Court held that the Federal Arbitration Act does not preclude class action.
B. The U.S. Supreme Court held that the Federal Arbitration Act precludes class action in all circumstances.
C. The U.S. Supreme Court held that whether the Federal Arbitration Act precludes class actions depends on the type of class action involved.
D. The U.S. Supreme Court held that the Federal Arbitration Act precludes class actions only if employment issues are involved.
E. The U.S. Supreme Court has not addressed the validity of class actions.