Final Answer:
Any defect in an arbitrator's award resulting from error of fact or law, no matter how flagrant, is neither reviewable nor correctable unless the arbitrator exhibits fraud, corruption, or partiality.
Step-by-step explanation:
Arbitration awards are typically final and binding, and courts are reluctant to interfere in the arbitration process. The statement highlights a common principle in arbitration law—that errors of fact or law in the arbitrator's award are generally not subject to review or correction by the courts. However, there is an exception. If the arbitrator exhibits fraud, corruption, or partiality, the courts may intervene.
These egregious actions compromise the integrity of the arbitration process, and in such cases, a court may set aside or modify the award. This exception ensures that arbitration, while maintaining autonomy, is not immune to instances of serious misconduct.