Given the following conditions, estimate and compare your thoughts on expected costs and time associated with...
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Given the following conditions, estimate and compare your thoughts on expected costs and time associated with arbitrating or litigating the case involving: In other words, how much would it cost to arbitrate versus handling the following scenario through a court process. How many dollars and how many months/years? A case involving a dispute over $2,000,000 claimed to cover removal of the cyanide soil mentioned in an earlier assignment . Both owner and contractor will use lawyers . Depositions will not be needed in arbitration, but will be needed for 45 witnesses in litigation . All of the witnesses will testify in both arbitration and litigation . The arbitration will use one arbitrator Assume a court trial will take two weeks and an arbitration will take 3 full days • Assume costs for lawyers, employees, expert witnesses per hour ($100 to $500/hour) • Costs are also involved for a court reporter in all depositions at $100/hour Given the following conditions, estimate and compare your thoughts on expected costs and time associated with arbitrating or litigating the case involving: In other words, how much would it cost to arbitrate versus handling the following scenario through a court process. How many dollars and how many months/years? A case involving a dispute over $2,000,000 claimed to cover removal of the cyanide soil mentioned in an earlier assignment . Both owner and contractor will use lawyers . Depositions will not be needed in arbitration, but will be needed for 45 witnesses in litigation . All of the witnesses will testify in both arbitration and litigation . The arbitration will use one arbitrator Assume a court trial will take two weeks and an arbitration will take 3 full days • Assume costs for lawyers, employees, expert witnesses per hour ($100 to $500/hour) • Costs are also involved for a court reporter in all depositions at $100/hour
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Answer rating: 100% (QA)
The cost to arbitrate this case would be 2000000 500000 for lawyers ... View the full answer
Related Book For
University Physics with Modern Physics
ISBN: 978-0321501219
12th Edition
Authors: Hugh D. Young, Roger A. Freedman, Lewis Ford
Posted Date:
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