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.
Arbitrage Definition With Reference In Maryland
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US-00416-1
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Arbitration is a process for settling disputes related to the contract. Many contracts contain a mandatory arbitration clause.Arbitration is a legally binding process that resolves contract disputes without having to take the disagreement to court. Status of Arbitration Clauses. Maryland courts favor and require arbitration in the employment context where there is an enforceable agreement to arbitrate. The arbitration process shall be conducted in the City of Rockville, Maryland. Specified in the arbitration agreement. Arbitrage is the simultaneous purchase and sale of the same asset in different markets in order to profit from a difference in its price.