Business Law: Alternative Dispute Resolution Exam Questions And Answers

Business Law: Alternative Dispute
Resolution Exam Questions And
Answers
Traditional Dispute Resolution - - correct answer ✅- Negotiations
- Litigation


Alternative Dispute Resolution - - correct answer ✅A continuum of
techniques available to individuals and organisations to assist in the
management of conflict by preventing or resolving disputes and
avoiding litigation.


Business Industry reasons for ADR - - correct answer ✅- Costs of
Litigation
- Time involved in Litigation
- Delays in court decisions
- Business relationships are damaged due to litigation
- Judicial outcomes are unpredictable


ADR Methods - - correct answer ✅- Negotiation
- Good offices
- Mediation
- Inquiry
- Conciliation
-Arbitration

, Business Law: Alternative Dispute
Resolution Exam Questions And
Answers

ADR methods from Least invasive to most invasive - - correct answer
✅NGMA
- Negotiation
- Good Offices
- Mediation
- Arbitration


Primary ADR techniques - - correct answer ✅-Negotiation
- Mediation
- Arbitration


Negotiation - - correct answer ✅- Non Binding
- No third Parties


Mediation - - correct answer ✅- Intervention of a neutral third party
into a dispute to assist the disputing parties in a confidential process to
voluntarily negotiate a jointly acceptable resolution of the problem