BUS 201/ BUS 201 Chapter 4 Quiz (2015) PERFECT ANSWER - 94640

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Question 1. Which of the following differentiates an arbitration proceeding from a trial? The absence of official written records of the hearing The use of legal counsel by the parties involved The outcome of the hearing is legally binding The presence of a neutral third party at the hearing 2. Red Resource Inc. and Coral Techno Inc. are in a dispute over a contract. They decide to use a form of alternative dispute resolution (ADR) to settle the dispute. Both the parties, along with their respective lawyers, meet to discuss the issue. However, there is no neutral third party involved. Which form of ADR is most likely being used here? Mediation Litigation Arbitration Negotiation 3. A submission agreement is a contract stating that: all disputes related to employment will be settled without appointing a neutral third party. a specific dispute will be resolved through arbitration. a dispute related to intellectual property infringement will be resolved through litigation. all disputes between the parties shall be resolved in the federal court. 4. Which of the following is one of the main goals of a mediator in a dispute? Helping each party listen to their opponent's concerns Filing a lawsuit in the state or federal courts on behalf of the disputing parties Acting as the weaker party's attorney in the negotiation Making a decision on behalf of both the parties to resolve the dispute 5. In problem-solving negotiation, the disputing parties seek _____. joint or mutual gain to accept the judgment passed by a neutral third party to maximize their own gain partial dispute resolution 6. Why is a minitrial preferred to arbitration? Unlike arbitration, the procedures of a minitrial do not change according to the needs of the parties. Unlike arbitration, a minitrial does not involve a neutral third party. The verdict arrived through a minitrial is legally binding, which is lacking in arbitration. The process of minitrial is less costly than arbitration. 7. The New York Convention ensures that an arbitration award will be enforced by countries that are parties to the treaty. Which of the following is a defense to lack of enforcement of the arbitration award? The arbitration took place outside a disputing party's home country. One of the parties did not have the authority to enter into a legal contract. One of the disputing parties did not reply to the notice of the arbitration. The two disputing parties are not neighboring countries. 8. Which of the following statements is true of a summary jury trial? It leads to a legally binding jury verdict. It is a time-consuming process that lasts for two months. The lawyers of the disputing parties do not have to present evidence for such trials. Each judge in the summary trial can set his or her own rules. 9. Which of the following is a disadvantage of arbitration? The arbitrator lacks the flexibility in decision making that a judge has. The confidentiality associated with an arbitration proceeding can be misleading. The parties have no control over the process of dispute resolution through arbitration. The process of arbitration is more expensive and time-consuming than litigation. 10. Two neighboring countries are in a dispute over the condition of a river which is common to both. Each country believes that the other country is polluting the river to dangerous levels. To resolve the situation, they decide to use a method of alternative dispute resolution (ADR) that is particularly useful in resolution of environmental disputes, and they voluntarily appoint a neutral third party. This method of dispute resolution is referred to as _____. minitrial summary jury trial mediation litigation
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Question

1. Which of the following differentiates an arbitration proceeding from a trial?

The absence of official written records of the hearing

The use of legal counsel by the parties involved

The outcome of the hearing is legally binding

The presence of a neutral third party at the hearing

2. Red Resource Inc. and Coral Techno Inc. are in a dispute over a contract. They decide to use a form of alternative dispute resolution (ADR) to settle the dispute. Both the parties, along with their respective lawyers, meet to discuss the issue. However, there is no neutral third party involved. Which form of ADR is most likely being used here?

Mediation

Litigation

Arbitration

Negotiation

3. A submission a

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