Question

Your good friend, Susan, is involved in a contentious contractual dispute with a former business partner. After years of litigation, Susan's lawyer recommended scheduling an arbitration. Susan knows you are taking Business Law, and has asked you what the advantages are for attending an arbitration. Based on what you have learned from your Business Law textbook, which of the following would NOT be an advantage of arbitration that you would tell Susan about? Select one: O a. You and the other party will have the ability to select an arbitrator that has expertise in contractual disputes. u b . The arbitration process is structured in a way that makes it easier for the parties to maintain an ongoing relationship after a decision is reached. c. You will likely be able to get a decision quicker than if you continued working towards trial. d. You will get closure, since the arbitrator will make a decision that is binding on the parties.

Answer 1

Part 1

Arbitration is an alternative wherein both the parties decide not to take the dispute to court by hiring an arbitrator who is of common choice by both the parties.

The process of arbitration is usually faster than the court process also it is easier for the parties to maintain the relationship even after the judgement of the arbitrator as both the parties will be satisfied with the judgement.

But the only disadvantage in the given option is that the judgement of the arbitrator will be binding on both the parties and no further appeal can be made after that

Hence the correct option is D.

Part 2

As per the Schedule C of Alberta Rules of Court Alta Reg 124/2010 , in a successful trial court awards cost to the person for the amount of time his/her lawyer spent for preparing the trial based upon the amount of judgement.

In this case the judgement amount was $800,000 , so as per schedule Kiko will receive $8,000 from the court.

Hence the correct option is B.