FAMOUS PLAYWRIGHT POET AND OTHERS
MACBETH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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to plant trees
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to celebrate
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to pay damanges
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to decide a dispute
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Detailed explanation-1: -Arbitration is not same as judicial proceedings as it is basically an out of court settlement process. Arbitration only deals with disputes which are civil in nature. [5] The person by whom the disputes are settled is known as arbitrator or arbiter and the decision given by him is known as arbitral award.
Detailed explanation-2: -1. Arbitral tribunals refer to panels of one or more arbitrators responsible for adjudicating disputes between parties.
Detailed explanation-3: -There is no inherent jurisdiction of an arbitral tribunal. Instead, its jurisdiction is derived from the agreement between the parties to decide a particular dispute by way of arbitration. Thus, the jurisdiction of an arbitral tribunal is not derived from any legislation. There is a high level of party autonomy.
Detailed explanation-4: -Section 7 of the Arbitration and Conciliation Act of 1996 defines arbitration agreement as an agreement by the parties to refer to arbitration all or some disputes which have arisen or will arise on a future date between them with reference to a defined legal relationship, whether contractual or not.