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.
Arbitrate Definition For English In Philadelphia
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Philadelphia
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US-00416-1
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Contractual arbitration is a means of bypassing the judicial system and is voluntary in the sense that the parties have entered into an agreement to resolve. To act as arbiter upon (a disputed question) : to settle (a dispute between two people or groups) after hearing the arguments and opinions of both.A court may stay arbitration proceedings on a showing that there is no agreement to arbitrate. 42 Pa. C. S. § 7302 (b). Any type of dispute, claim or controversy arising out of business dealings with any FINRA brokerage firm1 can be resolved in mediation or arbitration.