Arbitration - National
ENCYCLOPEDIA OF LAW AND SOCIETY, Professor David S. Clark, ed., Forthcoming
7 Pages Posted: 11 Aug 2005
Arbitration is a form of dispute resolution in which parties agree to submit their dispute to one or more neutrals to conduct a hearing and render a decision on the merits. Arbitration is an increasingly common feature of modern life. Once confined to the specialized provinces of international commercial transactions, the securities industry, and labor-management relations, arbitration clauses now appear in many day-to-day consumer transactions in the United States. This article describes the history of arbitration, the evolution of the law pertaining to arbitration, and the current controversies about the use of arbitration in the consumer and employment contexts.
Keywords: History of arbitration, arbitration in consumer and employment contexts
JEL Classification: J52
Suggested Citation: Suggested Citation