Arbitrator

Definition

An arbitrator is an independent third party who is appointed to resolve disputes outside of the traditional court system, typically in an arbitration proceeding. This person acts as a judge, reviewing evidence and making decisions that are usually binding on both parties involved in the dispute. Arbitration is often preferred for its speed and confidentiality, making it a popular alternative in resolving tort-related disputes.

5 Must Know Facts For Your Next Test

1. Arbitrators are selected based on their expertise in the relevant field, which can lead to more informed decisions compared to traditional court judges.
2. The process of arbitration can be faster and less formal than litigation, often resulting in reduced legal costs for both parties.
3. Many contracts include arbitration clauses that require disputes to be resolved through arbitration rather than through the court system.
4. The arbitrator’s decision is typically final and can only be challenged in limited circumstances, such as fraud or serious misconduct.
5. Arbitration is particularly useful in tort cases involving business disputes, where confidentiality and specialized knowledge may be crucial.

Review Questions

• How does the role of an arbitrator differ from that of a judge in a traditional court setting?
  • An arbitrator serves as an independent third party to resolve disputes outside of the court system, while a judge operates within the formal legal framework of the court. Arbitrators often have specific expertise related to the dispute, allowing for more informed rulings. Additionally, arbitration tends to be more informal and faster than traditional litigation, with less stringent procedural rules.
• What are the advantages of using an arbitrator for resolving tort-related disputes?
  • Using an arbitrator can provide several benefits for resolving tort-related disputes, including faster resolution times and lower costs compared to court proceedings. The confidentiality of arbitration helps protect sensitive information from becoming public. Additionally, the expertise of an arbitrator in specific areas related to the dispute can lead to more informed decisions, making arbitration a favorable option for many parties.
• Evaluate the implications of binding arbitration agreements in contracts on access to justice for individuals involved in tort claims.
  • Binding arbitration agreements can significantly impact access to justice for individuals with tort claims. While they offer a streamlined process for dispute resolution, these agreements may limit an individual's ability to pursue claims in a traditional court setting, potentially hindering their rights. Furthermore, if arbitrators consistently favor corporations over individuals, it could exacerbate power imbalances and reduce accountability in tort cases. This raises concerns about fairness and transparency within the arbitration process.

Related terms

Arbitration: A method of dispute resolution where an arbitrator makes a binding decision after hearing arguments and evidence from both parties.

Mediation: A collaborative process where a mediator helps parties negotiate a settlement, but does not make binding decisions.

Binding Decision: A ruling made by an arbitrator that both parties agree to follow, which is enforceable in court.