Business & Finance Chapter 3 Which is not true about an arbitration decision

Unlock access to all the studying documents.

View Full Document

289. Which is not true about an arbitration decision:

a. it need not be in writing

b. it is entered in the public record

c. no rationale need be given for the decision

d. punitive damages may be awarded

e. all of the other choices are true

290. An arbitrator’s award is based on:

a. application of law to the evidence presented

b. his personal feelings about the case

c. the presentations of the parties involved

d. the cooperativeness of the parties involved

e. none of the other choices are correct

291. As a practical matter, when a party is unhappy with the decision from arbitration, it is most common to:

a. appeal to the International Chamber of Commerce

b. appeal to the International Court of Justice

c. appeal to a state or federal court

d. obey the ruling

e. none of the other choices

292. When a losing party to an arbitration appeals the arbitrator’s decision to the courts, to have a chance of success, the

appeal best be based on:

a. errors of law

b. errors of fact

c. fraud

d. misunderstanding of circumstances

e. failure to comply with civil procedure

293. The following are grounds for overturning an arbitration decision, according to the Federal Arbitration Act, except:

a. the arbitrator does not state the legal basis for the decision

b. the arbitrator engaged in fraud

c. the arbitrator exceeded his authority

d. there is evidence of serious procedural misconduct

e. all of the other choices are grounds

294. Which of the following is not a reasonable ground for overturning an arbitration award?

a. the award was obtained by fraud

b. the arbitrator is a friend of one of the parties

c. there is evidence of partiality or corruption by the arbitrator

d. the arbitrator exceeded his power

e. all of the other choices would result in the award being overturned

295. Res judicata with reference to arbitration means:

a. let the superior answer

b. let the court speak

c. the judgment may be appealed

d. the judgment is final

e. the judgment is corrupt

296. Arbitration awards are usually final due to the application of the doctrine of:

a. stare decisis

b. res judicata

c. responsible awards

d. final arbitration

e. none of the other choices are correct

297. Which contracts often include arbitration clauses?

a. insurance contracts

b. investment contracts with stockbrokers

c. many commercial contracts

d. labor contracts

e. all of the other choices

298. Domain name disputes are often settled by arbitration or mediation via the:

a. United Nation’s Internet Commission

b. World Intellectual Property organization

c. International Court of Justice

d. International Chamber of Commerce

e. none of the other choices; those must be resolved in each country independently

299. The least formal method of alternative dispute resolution is:

a. court-annexed arbitration

b. mini–trial

c. mediation

d. negotiation

e. arbitration

300. The least formal method of alternative dispute resolution is:

a. court-annexed arbitration

b. mini–trial

c. mediation

d. arbitration

e. none of the other choices are correct

301. Negotiation is always:

a. compulsory

b. voluntary

c. very formal

d. conducted with many lawyers

e. alienating

302. Negotiated settlements are usually:

a. contracts enforced by the courts

b. verbal apologies

c. written apologies

d. verbal contracts

e. none of the other choices are correct

303. The first stage of a negotiation should involve:

a. studying the issues

b. choosing a court with appropriate jurisdiction

c. calling the opposing party‘s attorney

d. selecting a jury

e. none of the other choices are correct

304. When studying the issues involved in a negotiation, a party should:

a. gather facts and relevant information

b. not rely on personal opinions

c. consider the objectives of negotiation

d. understand the weak points of his own position

e. all of the other specific choices are correct

305. The stages of a negotiation include:

a. planning the negotiation under supervision of an arbitrator

b. exchange of information

c. presenting evidence at court

d. requesting approval of the final agreement by a judge

e. none of the other choices

306. If a negotiation is conducted properly:

a. the parties will immediately proceed to trial

b. the parties will terminate their relationship

c. almost nothing said in negotiation will be usable in a later court case

d. the evidence presented at negotiation will be pre-approved for use in any later court case, saving time and

money

e. the decision will be automatically applied by a court

307. Almost nothing said in a negotiation may be:

a. used to determine the amount of the settlement

b. used in a court case if the negotiation fails

c. used to determine the attorneys’ fees

d. used to determine fault

e. none of the other choices are correct

308. Many international contracts involving the sale of cotton require that disputes be taken to the

a. Global Trade Association

b. New York Convention

c. International Cotton Association

d. U.S. International Trade Court

e. none of the other choices

309. If the loser of an arbitration decision in an international cotton contract dispute fails to follow the order of the

arbitrator:

a. the United Nation‘s International Arbitration Enforcement mechanism will bring about enforcement

b. the party refusing to pay will be subject to triple damages plus attorney fees

c. the Court of Appeals for the Federal Circuit will enforce the judgment

d. the fact of failure to pay may be advertised to try to discourage dealing with that party

e. none of the other choices are correct

310. The goal of mediation is to:

a. create an adversarial environment

b. reach a mutually acceptable agreement

c. win a judgment against one‘s opponent

d. force one party to accept defeat

e. hide information from one’s opponent

311. A mediator is:

a. a third party who helps parties to a dispute to reach a solution by coming up with an acceptable agreement

b. the plaintiff‘s lawyer who helps parties to a dispute to reach a solution by determining the party at fault

c. the defendant’s lawyer who helps parties to a dispute to reach a solution by stating which laws the plaintiff

has broken

d. a court appointed attorney of mediation who helps parties to a dispute to reach a solution by coming up with

a damages contract

e. none of the other choices are correct

312. Unlike arbitrators, mediators:

a. can impose decisions on both parties

b. cannot impose a decision

c. cannot help resolve a conflict

d. cannot create law

e. cannot bend the rules of arbitration

313. Surveys indicate that lawyers:

a. prefer arbitration to mediation

b. prefer mediation to arbitration

c. prefer trials to mediation

d. prefer trials to arbitration

e. none of the other choices

314. Mediation is:

a. forced

b. involuntary

c. voluntary

d. not respected by attorneys

e. none of the other choices are correct

315. Mediation is:

a. a way for the plaintiff to reduce attorney costs

b. a voluntary process that helps avoid litigation

c. a voluntary process that increases the likelihood of litigation

d. the only way to settle disputes outside of court

e. the only way to settle divorce cases

316. One key area in which mediation is often used is:

a. the investment industry

b. for college professors

c. for technical employees

d. for labor disputes

e. for environmental disputes

317. Ralph hangs a sign in front of his office that reads, “Ralph, Expert Mediator.” In fact, Ralph has no training as a

mediator. If Cindy uses Ralph‘s services and finds the agreement he negotiated to be nonsense, she may:

a. sue him for failing to perform in a professional manner

b. sue him for assault

c. not sue him, mediators may not be liable

d. appeal the agreement to the Chamber of Commerce

e. appeal the agreement to the Mediator’s Guild

318. In mediation, which of the following activities must the mediator conduct?

a. gather information

b. explain the process to the parties

c. encourage compromise

d. discuss options with the parties

e. all of the other choices are likely included

319. Collecting information, outlining key issues and encouraging compromise are all parts of:

a. a mediator’s job

b. a paralegal’s job

c. a bailiff’s job

d. a judge’s job

e. a jury’s job

320. Which of the following is NOT part of a mediator‘s job:

a. collecting information

b. outlining key issues

c. encouraging compromise

d. discussing options

e. bringing a case to court

321. Which of the following is NOT part of a mediator‘s job:

a. collecting information

b. outlining key issues

c. encouraging compromise

d. discussing options

e. all of the other specific choices are part of a mediator‘s job