Negtiation Flashcards
1
Q
How is negotiation different to all other forms of ADR?
A
There is no third party
Parties negotiate directly to reach an agreement
2
Q
Can parties have solicitors in Negotiation
A
Yes
3
Q
What is normally the first form of ADR used?
A
Negotiation
4
Q
What are the costs with negotiation?
A
No costs unless lawyers involved
5
Q
What are the advantages of negotiation?
A
Speed
Cost
Privacy
Lack of formality
6
Q
What are the disadvantages of negotiation?
A
Imbalances of power
Lack of legal expertise
Enforceability
7
Q
What is meant by imbalance of power in negotition?
A
Large company (repeat players) vs One Shotters
