Chapter 4 Flashcards
Alternative Dispute Resolution (ADR)
a range of options for resolving disputes as an alternative to litigation, most common are negotiation, mediation, and arbitration
Release
an agreement where a party agrees to relinquish the past, present and future claims arising from a certain event. Binding on the parties unless it is grossly unfair or unconscionable
Mediator
a person who helps the parties resolve their dispute
Arbitration
arbitration is a method for resolving whereby a third person appointed by the parties makes a decision.
Binding
final and enforceable in the courts
Plaintiff
the party that initiates a lawsuit against another party
Defendant
The party being sued
Limitation Period
the time period specified by legislation for commencing legal action
Class Action
a lawsuit launched by one person who represents a class of persons having similar claims against the same defendant
Pleadings
the formal documents concerning the basis for a lawsuit
Claim
the formal document that initiates litigation by setting out the plaintiff’s allegations against the defendant
Negotiation
two parties sit down and try to settle things between themselves
Mediation
third party helps to mediate a solution – facilitate discussion but not making decisions
Arbitration
similar to mediation, similar to litigation – the third party here listens to both sides’ positions in a more formal way including evidence, witnesses, etc. and then arbitrator has authority to make binding decision
Litigation
third party judge, public knowledge, no control for the parties but it is an absolutely final, legally binding decision