This arbitration agreement is executed contemporaneously with, and as an Inducement and consideration for, an Installment or sales contract for the purchase of a manufactured home. It provides that all claims or disputes arising out of or relating in any way to the sale, purchase, or occupancy of manufactured home resolved by binding arbitration administered by the American Arbitration Association ("AAA") under its Commercial Arbitration Rules. This Agreement is an election to resolve claims, disputes, and controversies by arbitration rather than the judicial process. The parties waive any right to a court trial.
Arbitration Definition With Example In Cook
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State:
Multi-State
County:
Cook
Control #:
US-00416-1
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Word;
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A mandatory arbitration hearing is a legal proceeding for certain types of civil cases where the plaintiff is asking for money damages only. It is a formal process where parties select a neutral third party, called an arbitrator, to resolve a dispute.In essence, arbitration is a form of alternative dispute resolution (ADR) that serves as a substitute for traditional litigation in court. Arbitration has long been the dispute resolution method of choice for transactions that cross international borders. An arbitration agreement is a contract between parties to submit future or existing disputes to arbitration. An arbitration agreement will oust the jurisdiction of the Courts. The English Courts will uphold and enforce agreements to arbitrate. Self-representation means representing yourself in a legal matter, such as an arbitration case. Arbitration is a means of settling disputes outside of court. However, in the Circuit Court of Cook County, cases are not initially filed as arbitration cases.