Dispute Resolution

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A Dispute Resolution is a contractual mechanism that can be used to resolve contractual disputes (that support conflict resolution).



References

2024a

  • (ChatGPT-OpenAI, 2024) ⇒ Prompt: Summarize the concept Dispute Resolution (Contract Law) in 1- 2 paragraphs. ChatGPT (model:gpt-4o). Retrieved: 2024-12-08.
    • QUOTE: Dispute resolution in contract law refers to the processes and mechanisms used to resolve disagreements or conflicts that arise out of contractual relationships between parties. Such disputes can occur due to a variety of reasons, including breaches of contract, misunderstandings regarding contract terms, or the failure to fulfill contractual obligations. Dispute resolution aims to find a solution that is acceptable to all parties involved, using methods that are typically less adversarial and less costly than traditional litigation.

      There are several common methods of dispute resolution in contract law, including negotiation, mediation, arbitration, and litigation. Negotiation involves direct discussions between the parties to reach a mutually agreeable solution. Mediation employs a neutral third-party mediator to facilitate discussions and assist parties in finding a resolution. Arbitration involves a neutral arbitrator or panel that hears the case and makes a binding decision. Litigation is a formal process where the dispute is taken to court and decided by a judge or jury. Each method has its own advantages and disadvantages, and the choice of dispute resolution technique depends on factors such as the nature of the dispute, the relationship between the parties, cost considerations, and the desired speed of resolution.

2024b

2023a

2023b

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2020