Question

. Roger and Larry are having a dispute regarding their joint business. They want to have a binding resolution to their dispute, but they would prefer to have the dispute handled privately and by someone with special expertise. The best form of dispute resolution for their problem would be:

Answer 1

Arbitration is the best form of dispute resolution for Roger and Larry's problem. It is a private and informal process where a neutral third-party makes a binding decision on the dispute. Arbitration offers benefits such as confidentiality, flexibility, and quicker resolution.

Step-by-step explanation:

The best form of dispute resolution for Roger and Larry's problem would be arbitration. Arbitration is a private and informal process where disputing parties agree to have a neutral third-party make a decision on their dispute. The decision made by the arbitrator is binding and enforceable, providing a resolution to the dispute.

Arbitration can be a preferable option when parties want their dispute handled privately and by someone with special expertise. It allows for a more efficient and less formal process compared to litigation in court.

Arbitration offers several benefits, including confidentiality, flexibility in choosing arbitrators, and quicker resolution compared to court proceedings. It can be a cost-effective and efficient way to resolve business disputes.

Answer 2

Arbitration is the best method for Roger and Larry who want a private, binding solution for their joint business dispute, with a specialized and neutral arbitrator presiding.

Step-by-step explanation:

For Roger and Larry, who are seeking a private and binding resolution to their business dispute with the involvement of someone with special expertise, arbitration is the most suitable form of dispute resolution. Arbitration is a process wherein a neutral third-party, known as an arbitrator, hears the evidence and arguments from both parties and makes a decision that is typically binding on both parties. This method combines the benefits of a private proceeding with the expertise of an arbitrator who has the appropriate knowledge pertaining to the subject matter of the dispute. Furthermore, arbitration tends to be less formal than court litigation, which can provide a quicker and more cost-effective resolution.