LS U3 AoS 2 - Arbitration

Which of the following is NOT listed as an Alternative Dispute Resolution method?

• Mediation

• Conciliation

• Negotiation

• Arbitration

What is arbitration in the context of dispute resolution?

• A legal process where a judge makes a binding decision

• A method where an independent arbitrator listens to both sides, considers evidence presented and makes a legally binding decision

• A negotiation process where parties come to a mutual agreement without any third-party involvement

• A governmental intervention to resolve disputes without legal proceedings

Which of the following best describes the nature of arbitration compared to court trials?

• More formal and less cost-effective

• Less formal and more cost-effective

• Equally formal but more cost-effective

• More formal and equally cost-effective

What is typically known as an arbitrated award?

• The initial agreement to enter arbitration

• The final decision made by the arbitrator that is binding on the parties

• A preliminary assessment of the dispute by the arbitrator

• The compensation awarded to the winning party

Why do corporations often use arbitration?

• To avoid the strict rules of evidence and procedure of the courts

• To ensure a public and transparent process

• To achieve a non-binding opinion on the dispute

• To prolong the resolution of the dispute

What is the primary difference between arbitration and mediation or conciliation in terms of the finality of the decision?

• Arbitration decisions are not binding

• Mediation requires a deed of settlement

• Arbitration decisions are binding without a deed of settlement

• All dispute resolutions require court attendance

Under what condition is the Magistrates' Court obligated to refer parties to arbitration?

• If the dispute involves criminal charges

• If the civil dispute is under $10,000

• If the dispute is over $10,000

• If the parties request for a jury trial

Which court can order parties to partake in arbitration with consent from both parties?

• Magistrates' Court

• County Court and Supreme Court

• VCAT

• CAV

Which of the following courts does not conduct arbitration but has the power to order parties to attend arbitration?

• Magistrates' Court

• County Court and Supreme Court

• VCAT

• CAV

When is arbitration considered appropriate according to the document?

• When parties do not agree to arbitrate

• When the dispute involves civil damages of less than $10,000

• When parties are comfortable navigating complex court rules

• When parties want greater control over the outcome of their dispute resolution