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NEW QUESTION 28
Buyer A and Supplier B have had a disagreement regarding a breach in the contract. They are looking to resolve the issue via arbitration. Which of the following is true about arbitration?
Explanation:
The outcome is binding and enforceable is the correct answer. However the ruling can be appealed. Arbitration is a flexible approach, and the outcome doesn't set legal precedent. The role of the arbitrator is to reach a decision, only in mediation is the role of the third party to facilitate dialogue rather than reach a decision. See p.80 for more information on arbitration.
NEW QUESTION 29
R3D3 is a computer manufacturer who has had an issue with their supplier. They are seeking a conflict resolution approach which is flexible but will provide a binding and enforceable outcome. They would like the resolution to be confidential and directed by an independent third party that is appointed for them. Which of the following would be the best conflict resolution for them to select?
Explanation:
Arbitration ticks all of the boxes required by R3D3. Mediation isn't correct because it's not binding. Negotiation isn't correct because there's no 3rd party. Litigation isn't correct because it's not confidential. See p. 80 for more on arbitration.
NEW QUESTION 30
Which of the following will you put into box 8?
Explanation:
The correct answers are as follows:
This is arbitration as it involves a panel.
NEW QUESTION 31
Which TWO conflict resolution methods provide certainty of resolution?
Explanation:
Adjudication and Litigation (and Arbitration too) all provide certainty of a resolution. The other methods don't. There's a really useful table with this information on p.87 of the study guide.
NEW QUESTION 32
......
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NEW QUESTION 28
Buyer A and Supplier B have had a disagreement regarding a breach in the contract. They are looking to resolve the issue via arbitration. Which of the following is true about arbitration?
- A. the outcome is binding and enforceable
- B. the outcome will set a legal precedent
- C. the arbitrator's role is to facilitate dialogue
- D. there are strict rules and processes to follow
Explanation:
The outcome is binding and enforceable is the correct answer. However the ruling can be appealed. Arbitration is a flexible approach, and the outcome doesn't set legal precedent. The role of the arbitrator is to reach a decision, only in mediation is the role of the third party to facilitate dialogue rather than reach a decision. See p.80 for more information on arbitration.
NEW QUESTION 29
R3D3 is a computer manufacturer who has had an issue with their supplier. They are seeking a conflict resolution approach which is flexible but will provide a binding and enforceable outcome. They would like the resolution to be confidential and directed by an independent third party that is appointed for them. Which of the following would be the best conflict resolution for them to select?
- A. litigation
- B. negotiation
- C. arbitration
- D. mediation
Explanation:
Arbitration ticks all of the boxes required by R3D3. Mediation isn't correct because it's not binding. Negotiation isn't correct because there's no 3rd party. Litigation isn't correct because it's not confidential. See p. 80 for more on arbitration.
NEW QUESTION 30
Which of the following will you put into box 8?
- A. litigation
- B. arbitration
- C. mediation
- D. adjudication
Explanation:
The correct answers are as follows:
This is arbitration as it involves a panel.
NEW QUESTION 31
Which TWO conflict resolution methods provide certainty of resolution?
- A. adjudication and mediation
- B. adjudication and litigation
- C. arbitration and conciliation
- D. mediation and litigation
Explanation:
Adjudication and Litigation (and Arbitration too) all provide certainty of a resolution. The other methods don't. There's a really useful table with this information on p.87 of the study guide.
NEW QUESTION 32
......