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.
Maryland Arbitration Agreement
Category:
State:
Multi-State
Control #:
US-00416-1
Format:
Word;
Rich Text
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FAQ
While parties are not required to have an attorney to participate in arbitration, arbitration is a final, legally-binding process that may impact a party's rights. As such, parties may want to consider consulting an attorney at any time before, during, or after the arbitration.
Arbitration Act, or common law rules governing arbitration, an arbitrator makes a decision which is binding on the parties. If conducted solely pursuant to Title 17 of the Maryland Rules, and there is no agreement to the contrary, the arbitration is non-binding and the parties may accept or reject the award.
VALid ArbitrAtion AGreement Under the MUAA, written arbitration agreements are valid, enforceable, and irrevocable, except where there are grounds at law or in equity for the revocation of a contract (Md. Code Ann., Cts. & Jud.
An arbitration clause can be either binding or nonbinding. A binding arbitration clause means that the arbitrator's decision on a specific dispute will be final. The courts will enforce that decision, and neither party can appeal or fail to act according to the decision.
The arbitration agreement is valid only if signed by parties with full civil act capacity, and such parties must be competent, specifically: (i) A person with full civil act capacity is at least 18 years old and does not lose or limit her/his civil act capacity or difficulties in perception, mastery of acts.
Is arbitration legal? Yes. The Federal Arbitration Act, or FAA, was passed in 1925 in response to a variety of court decisions that held arbitration agreements unenforceable. This law provides that arbitration agreements are generally valid and enforceable.
To enforce the right to arbitrate, the party must then file a motion to stay the lawsuit in favor of arbitration. If both parties to the agreement ignore the right to arbitrate, the right is waived.
Under the Armendariz standards, an arbitration agreement will not be enforced in California if it is both "procedurally unconscionable" and "substantively unconscionable." Any arbitration agreement required as a condition of employment (i.e., any mandatory arbitration agreement) is automatically considered procedurally