Question

What is the meaning of Arbitration?

• A. Resolving disputes through courts
• B. Resolving disputes through negotiation
• C. Resolving disputes through a neutral third party
• D. All of the above

Hint:

Arbitration is commonly used in commercial and international disputes to avoid the lengthy and costly process of litigation.

Answer 1

The Correct Option is C

Arbitration is a form of alternative dispute resolution (ADR) where disputes between two or more parties are resolved outside of the courtroom. In arbitration, a neutral third party, known as the arbitrator, hears both sides of the dispute and makes a binding decision. This process is generally quicker and less formal than going to court.