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.
Nebraska Arbitration Agreement
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Multi-State
Control #:
US-00416-1
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FAQ
"Arbitration agreement" is an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not.
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.
Arbitration can be binding (which means the participants must follow the arbitrator's decision and courts will enforce it) or nonbinding (meaning either party is free to reject the arbitrator's decision and take the dispute to court, as if the arbitration had never taken place). Binding arbitration is more common.
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.
A mandatory arbitration agreement should identify the rules, procedures, and evidentiary guidelines to be applied. Many agreements opt for a particular forum's rules and procedures. If there are any rules that the parties want to opt out of (e.g., a limitation on discovery), state as much in the arbitration agreement.
If an employee can show some substantial relationship between the fraud committed or the misrepresentation made by the employer and the arbitration agreement, a court will void the agreement.
Thus, in order for the Arbitration Clause to be enforceable, it must be clear that the parties mutually agreed to Arbitration as an alternate forum, that the parties are affirmatively waiving any right to proceed in State Court, and finally, that the parties are waiving a right to a Trial by jury.
First, any valid arbitration agreement must reflect the conscious, mutual and free will of the parties to resort to arbitration and not to other means of dispute resolution, including State courts. The consent of both parties to submit their dispute to arbitration is the cornerstone of arbitration.
The arbitration agreement is valid only if signed by parties with full civil act capacity, and such parties must be competent, specifically: 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.
First, any valid arbitration agreement must reflect the conscious, mutual and free will of the parties to resort to arbitration and not to other means of dispute resolution, including State courts. The consent of both parties to submit their dispute to arbitration is the cornerstone of arbitration.
