Instructions
Civil litigation and arbitration (one of the forms of alternative dispute resolution) are similar in the approach that they use to resolve legal disputes. In both proceedings, each party to the dispute presents its evidence to an independent third party that decides how the dispute will be resolved. Arbitration is less formal than civil litigation and is often less time-consuming and less expensive than civil litigation, but civil litigation often results in larger damage awards than arbitration.
If you had a substantial damage claim against a large corporation, would you give up the prospect of a large damage recovery through civil litigation for a quicker and cheaper but smaller recovery through arbitration? Provide your rationale.
Your journal entry must be at least 200 words in length.
SAMPLE SOLUTION
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Write My Essay For MeUnit I Journal (Business Law)
Civil litigation and arbitration are two dispute resolution methods that a person can use when faced with a claim issue. Although both methods are workable albeit using different mechanisms, there are many considerations to be made on the most appropriate when depending on the presented case. If I had a substantial damage claim against a large corporation, I will opt to use the arbitration method which is cheaper although it has small returns. The first reason to using the arbitration method is that it provides a speedier way to resolving the case as opposed to proceeding in court which can have serious delays.
The second reason to employ the arbitration method is that it if free of appeals. The limited right to make an appeal arbitration awards typically removes the appeal process which often delays the finality of the adjudication. Settling for an out of court settlement ensures that the accused agrees to the terms of the agreement. According to…
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