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 For Business In Franklin
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Multi-State
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Franklin
Control #:
US-00416-1
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We do not mean to express an opinion against arbitration of disputes between lawyers and clients. Our dispute resolution attorneys will pursue your interests with passion, reason, and cold, hard facts while keeping an open mind to a brokered resolution.Arbitration is similar to going to court, but faster, cheaper and less complex than litigation. If the case settles, an arbitration will last around one year. Arbitration – A less formal version of a traditional trial. A neutral third party (known as the arbitrator) acts as the judge. Alternative Dispute Resolution (ADR) refers to ways of settling civil disputes outside the courtroom. S. corporations, LLCs and other similar entities that are registered to do business in the United States. Many clients have asked me to insert arbitration clauses in the contracts. I draft for their businesses.