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Last Updated March 3, 2009 |
An arbitration agreement obligates the parties to engage in arbitration when a dispute arises between then, rather than resort to litigation. Orginally confined to large commercial disputes, it is increasingly used in business-to-consumer agreements as well. Arbitration Advantages and DisadvantagesArbitration involves far less discovery and procedural maneuvering than litigation. This can serve to level the playing field between businesses of unequal size, since it is harder for the larger business to simply grind its opponent into subjection. On the other hand, if one side is particularly in need of extensive discovery in order to build its case, arbitration can put it at a disadvantage. |
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