CUET Preparation Today
| Which of the following options is correct in respect of Arbitration? |
Settlement of disputes by mutual understanding or agreement by parties
An alternative dispute resolution mechanism
A form of conciliation
Both (a) & (b) |
| Both (a) & (b) |
| Arbitration is a term derived from the nomenclature of Roman law. Arbitration is a private arrangement of taking disputes to a less adversarial, less formal and more flexible forum and abiding by judgment of a selected person instead of carrying it to the established courts of justice. Arbitration is a ADR mechanism. Conciliation is a form of ADR mechanism. Hence option 3 is wrong. |
