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 Houston
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Multi-State
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Houston
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US-00416-1
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Arbitration is a form of legal conflict resolution. It is a dispute resolution alternative similar to mediation or conciliation.Arbitration is when the parties to a dispute agree to let a neutral third partyan arbitratorhear the case and decide on a binding decision. Arbitration is a alternative dispute resolution (ADR) in which an arbitrator renders a decision to resolve a dispute between parties. In order to proceed with case administration, the ICDR® must verify, on a threshold level, whether we have the administrative jurisdiction. Arbitration is an alternative dispute resolution method that can be much less expensive and time-consuming than court. Arbitration is the most traditional form of private dispute resolution. Arbitration is a binding procedure. An arbitration agreement is a contract that compels the parties to arbitrate legal disputes. An arbitration clause is a provision in a contract that requires the parties to resolve any disputes through arbitration instead of going to court.