Iowa Arbitration Agreement Between Operator and Nonoperator

State:
Multi-State
Control #:
US-OG-722
Format:
Word; 
Rich Text
Instant download

Description

This agreement is used when questions, differences, or disputes arise with regard to any of the Operator and Nonoperator agreements or the operations of the Leases.
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FAQ

Under the Federal Arbitration Act (?FAA?), 9 U.S.C. § 2, arbitration clauses are enforceable unless they can be revoked for the same legal or equitable reasons that allow any contract to be revoked. See 9 U.S.C. § 2.

One possible solution lies in the definition of ?unconscionable agreements.? Under the Federal Arbitration Act, one of the few ways to void an arbitration agreement is to prove that the agreement is ?unconscionable? under the standard rules applying to contract formation.

A provision in a written contract to submit to arbitration a future controversy arising between the parties is valid, enforceable, and irrevocable unless grounds exist at law or in equity for the revocation of the contract. This subsection shall not apply to any of the following: a. A contract of adhesion.

Section 147.164 - Gender transition procedure-related activities - minors - prohibitions 1. As used in this section: a. "Gender" means the psychological, behavioral, social, and cultural aspects of being male or female.

This law provides that arbitration agreements are generally valid and enforceable. The major exception to this provision is that the arbitration agreement is not enforceable if it violates the general law of contracts ? which applies to all contracts under the law of the state that governs the agreement.

A party is deceived, intimidated, or coerced during the execution of the arbitration agreement and requests a declaration that such arbitration agreement is invalid; and. The arbitration agreement violates prohibitions specified by the law.

In addition, the infringement of other rules of contract law may also constitute a ground for the annulment of an arbitration agreement, such as in cases involving fraud, 20 illegality, 21 or lack of capacity, 22 among others.

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Iowa Arbitration Agreement Between Operator and Nonoperator