Answer:
True. Arbitration follows court precedent to ensure consistency in courts and tribunals. This means that parties can be assured that the same standards of justice will be applied to their dispute, regardless of which court or tribunal hears it.
Supporting Subsections:
What is Arbitration?
Arbitration is a form of alternative dispute resolution in which two or more parties to a dispute submit their differences to the judgment of one or more impartial persons, called arbitrators. Unlike a court of law, the arbitrator is not bound by legal precedent and can make a decision based on the evidence presented.
How Does Arbitration Follow Court Precedent?
When deciding a dispute, an arbitrator will often look to court precedent as a guide. This means that the arbitrator will consider the decisions of previous courts and tribunals in similar cases when making their own decision. This helps to ensure that the same standards of justice are applied across different courts and tribunals.
Why is Court Precedent Important?
Court precedent is important to ensure consistency in the justice system. It means that parties can be assured that the same standards of justice will be applied to their dispute, regardless of which court or tribunal hears it. This helps to ensure fairness and impartiality in the legal system.
The Benefits of Arbitration
Arbitration is often faster and cheaper than other forms of dispute resolution, such as going to court. It also allows the parties to agree on the arbitrator, which can help to ensure that the decision is impartial and fair.
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