Which is not true about the decision (award) by the arbitrator in a binding arbitration: it is binding on the parties it may be confirmed by the court by a petition to confirm a court normally will overturn the decision only if it was obtained by cormuption, fraud, other undue means, or if the arbitrator exceeded the powers vested in her or him a court may overturn the decision for any reason that in its discretion it sees fit

Microeconomic Theory
12th Edition
ISBN:9781337517942
Author:NICHOLSON
Publisher:NICHOLSON
Chapter17: Capital And Time
Section: Chapter Questions
Problem 17.5P
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Question 7
Which is not true about the decision (award) by the arbitrator in a binding
arbitration:
it is binding on the parties
Oit may be confirmed by the court by a petition to confirm
a court normally will overturn the decision only if it was obtained by
corruption, fraud, other undue means, or if the arbitrator exceeded the
powers vested in her or him
a court may overturn the decision for any reason that in its discretion it
sees fit
Transcribed Image Text:ncorrect Question 7 Which is not true about the decision (award) by the arbitrator in a binding arbitration: it is binding on the parties Oit may be confirmed by the court by a petition to confirm a court normally will overturn the decision only if it was obtained by corruption, fraud, other undue means, or if the arbitrator exceeded the powers vested in her or him a court may overturn the decision for any reason that in its discretion it sees fit
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