Arbitration is one of the oldest methods of settling civil disputes between two or more persons by reference to the dispute to an independent and impartial third person instead of litigating the matter in the usual way through the Courts.

Advertisement

In Union of India Vs D.P. Wadia & Sons, A.I.R. (1977) Bom. 10, it was observed that “arbitration is a domestic forum. It is a forum other than a Court of law for determination of disputes and differences, after hearing both the sides, in a judicial manner”. The law relating to arbitration is contained in the Arbitration Act, 1940.

The person appointed to adjudicate upon the difference is called an arbitrator.

Section 2(a) defines that an “Arbitration Agreement means a written agreement to submit, present or future differences to arbitration, whether an arbitrator is named therein or not”.

Advertisement
The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]
0 Comments

Leave a reply

Your email address will not be published. Required fields are marked *

*

*

BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2019 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp
or

Log in with your credentials

or    

Forgot your details?

or

Create Account