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$2024$ Mid Term Examination

$2024$ Mid Term Examination

Which statement best describes the arbitration process?

It is a process through which the parties to a dispute endeavour to reach a resolution without the assistance of a neutral person.

It is a process where the parties try to come to some resolution themselves without lawyers.

It is a process in which a judge makes a decision that is always binding and which resolves a dispute.

It is a process through which a neutral party makes a decision $($usually binding$)$ that resolves a dispute.