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Arbitration clause
Arbitration clauseA clause in a bill of lading, a waybill, a charterparty or other contract, providing that any dispute arising under the contract shall be submitted to arbitration (supra) before one or more arbitrators, in the place and according to the laws and rules specified in the clause. RELATED TERMS-------------------------------------- Clause Contracts. A particular disposition which makes part of a treaty; of an act of the legislature; of a deed, written agreement, or other written contract or will. Bill 1) Legislation. An instrument drawn or presented by a member or committee to a legislative body for its approbation and enactment. After it has gone through both houses and received the constitutional sanction of the chief magistrate, where such approbation is requisite, it becomes a law. 2) Merchant law. An account containing the items of goods sold, or of work done by one person against another. 3) Contracts. A bill or obligation, is a deed whereby the obligor acknowledges himself to owe unto the obligee a certain sum of money or some other thing, in which, besides the names of the parties, are to be considered the sum or thing due, the time, place, and manner of payment or delivery thereof. It may be indented, or poll, and with or without a penalty. Charterparty A charterparty is a contract of lease of a ship in whole or in part for a long or short period of time or for a particular voyage. It has been said that its origin lies in the mediaeval Latin "carta partita" or "charta partita" or "charta divisa", where an agreement was torn into two pieces and one half was given to each party. Contract A negotiated oral or written agreement setting forth the terms for an exchange of value between parties (which may be individuals or companies) and under which each party promises to perform an obligation. Certain terms, such as the obligations to be performed and the terms for setting price or compensation must be mutually understood, known in legal lingo as a "meeting of the minds," and promised to by the parties to form a legal contract. Arbitration The settling of a dispute by an arbitrator. Arbitration is a long established alternative to litigation (which may not always be less complex) and which involves an arbitrator reaching a judgment, which is binding on both parties. Where arbitrators cannot agree they may appoint an "umpire". The decision of an arbitrator is known as an "award". Place Pleading, evidence. A particular portion of space; locality. Rules English law. The rules of the King's Bench and Fleet are certain limits without the actual walls of the prisons, where the prisoner, on proper security previously given to the marshal of the king's bench, or warden of the fleet, may reside; those limits are considered, for all legal and practical purposes, as merely a further extension of the prison walls. SIMILAR TERMS-------------------------------------- Arbiter One who, decides without any control. A judge with the most extensive arbitrary powers; an arbitrator. Arbitral award The decision reached by arbitrators in an arbitration (infra). Arbitral tribunal The panel of arbitrators or the single arbitrator charged with hearing and rendering an arbitral award in order to decide an arbitration. Arbitrament A term nearly synonymous with arbitration. Arbitrament and award The name of a plea to an action brought for the same cause which had been submitted to arbitration, and on which an award had been made. Arbitrary What depends on the will of the judge, not regulated or established by law. Arbitrary punishments Practice. Those punishments which are left to the decision of the judge, in distinctiou from those which are defined by statute. Arbitration The settling of a dispute by an arbitrator. Arbitration is a long established alternative to litigation (which may not always be less complex) and which involves an arbitrator reaching a judgment, which is binding on both parties. Where arbitrators cannot agree they may appoint an "umpire". The decision of an arbitrator is known as an "award". Arbitration agreement The agreement concluded between parties, providing for the submission of their dispute to arbitration, usually in a particular place, under a particular law governing the dispute along with rules of procedure governing the appointment of arbitrators and the arbitration process. The law applicable to the arbitration agreement, the laws applicable to the subject of the dispute, the law of the arbitral proceedings and the applicable conflict rules may all be different, each having a proper law of its own. Arbitration award An Arbitration Award is an agreement to submit to arbitration present or future disputes (whether they are contractual or not). The reference in an agreement to a written form of arbitration clause or to a document containing an arbitration clause constitutes an arbitration agreement if the reference is such as to make that clause part of the agreement. Arbitration exception An exception to the principle of foreign sovereign immunity found in the Foreign Sovereign Immunities Act of the United States, whereby the foreign sovereign is not immune from jurisdiction in any case in which the action is brought to confirm an arbitral award if the arbitration agreement or arbitral award is or may be governed by a treaty or other international agreement in force for the United States calling for the recognition and enforcement of arbitral awards. Arbitrator A private extraordinary judge chosen by the parties who have a matter in dispute, invested with power to decide the same. Arbitrrary law An arbitrary law is one made by the legislator simply because he wills it, and is not founded in the nature of things; such law, for example, as the tariff law, which may be high or low. This term is used in opposition to immutable. PREVIOUS AND NEXT TERMS-------------------------------------- Arbitrary What depends on the will of the judge, not regulated or established by law. Arbitrary punishments Practice. Those punishments which are left to the decision of the judge, in distinctiou from those which are defined by statute. Arbitration The settling of a dispute by an arbitrator. Arbitration is a long established alternative to litigation (which may not always be less complex) and which involves an arbitrator reaching a judgment, which is binding on both parties. Where arbitrators cannot agree they may appoint an "umpire". The decision of an arbitrator is known as an "award". Arbitration agreement The agreement concluded between parties, providing for the submission of their dispute to arbitration, usually in a particular place, under a particular law governing the dispute along with rules of procedure governing the appointment of arbitrators and the arbitration process. The law applicable to the arbitration agreement, the laws applicable to the subject of the dispute, the law of the arbitral proceedings and the applicable conflict rules may all be different, each having a proper law of its own. Arbitration award An Arbitration Award is an agreement to submit to arbitration present or future disputes (whether they are contractual or not). The reference in an agreement to a written form of arbitration clause or to a document containing an arbitration clause constitutes an arbitration agreement if the reference is such as to make that clause part of the agreement. Arbitration clause Arbitration exception An exception to the principle of foreign sovereign immunity found in the Foreign Sovereign Immunities Act of the United States, whereby the foreign sovereign is not immune from jurisdiction in any case in which the action is brought to confirm an arbitral award if the arbitration agreement or arbitral award is or may be governed by a treaty or other international agreement in force for the United States calling for the recognition and enforcement of arbitral awards. Arbitrator A private extraordinary judge chosen by the parties who have a matter in dispute, invested with power to decide the same. Arbitrrary law An arbitrary law is one made by the legislator simply because he wills it, and is not founded in the nature of things; such law, for example, as the tariff law, which may be high or low. This term is used in opposition to immutable. Arbor consanguinitatis A table, formed in the shape of a tree, in order to show the genealogy of a family. The progenitor is placed beneath, as if for the root or stem the persons descended from him are represented by the branches, one for each descendant. Archaionomia The name of a collection of Saxon laws, published during the reign of the English Queen Elizabeth, in the Saxon language, with a Latin version, by Mr. Lambard. We thank you for using the Juridical Dictionary to search for Arbitration clause. If you have a better definition for Arbitration clause than the one presented here, please let us know by making use of the suggest a term option. This definition of Arbitration clause may be disputed by other professionals. Our attempt is to provide easy definitions on Arbitration clause and any other medical topic for the public at large.
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