Arbitration, Tribunal Adjudication and Alternate Dispute Resolution Test 9

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Arbitration, Tribunal Adjudication and Alternate Dispute Resolution Test 9

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Question 1
1 / -0

An arbitrator _______.

A
is chosen and paid by the disputant

B
acts in accordance with privately chosen procedure so far as that is not repugnant to public policy

C
only (a) is correct

D
both (a) and (b) are correct

Solution

Arbitration is a legal technique for the resolution of disputes outside the courts, wherein the parties to a dispute refer it to one or more persons (the "arbitrators", or "arbitral tribunal"), by whose decision the "award" they agree to be bound. An arbitrator serves as the decision-maker and referee in an arbitration proceeding, much like a judge during a court case.
Question 2
1 / -0

Ad-hoc arbitration can be sought _______________________.

A
when the parties involved in commercial transaction choose to incorporate arbitration clause as a part of agreement to refer their future disputes

B
when a dispute that arose between the parties to a business transaction could not be settled through mediation or conciliation

C
when the parties agree to submit to arbitration 'all or any' differences which have arisen or may arise

D
only (b) and (c)

Solution

Ad hoc Arbitration is a proceeding that is not administered by others and requires parties to make their own arrangements for selection of arbitrators. The parties are under discretion to choose designation of rules, applicable law, procedures and administrative support.
Question 3
1 / -0

To invoke international commercial arbitration it is necessary that at least one of the parties is ____________.

A
a body corporate which is incorporated in any country other than India

B
the Government of a foreign country

C
an individual who is a national of, or habitually resident in any country other than India

D
all of the above
Solution
Under the Arbitration and Conciliation Act, 1996
Part 1 Arbitration
Chapter I : General Provisions
Section 2: Definitions
Section2(f): "International commercial arbitration" means an arbitration relating to disputes arising out of legal relationships, whether contractual or not, considered as commercial under the law in for in India and where at least one of the parties is-
an individual who is a national of, or habitually resident in, any country other than India; or
a body corporate which is incorporated in any country other than India; or
a company or any association or a body of individuals whose central management and control is exercised in any country other than India; or
the Government of a foreign country.
Question 4
1 / -0

Finality to arbitral awards within meaning of section $$35$$ of the Arbitration and Conciliation Act, $$1996$$ shall _______.

A
not be binding on parties

B
be binding on government authority

C
be binding on first party only

D
be binding on the parties and person claiming under then respectively

Solution

It has been provided under Chapter VIII (Finality and enforcement of arbitral awards) of the Part I (Arbitration) of the Arbitration and Conciliation, 1996. According to the Arbitration and Conciliation Act, 1996, an Arbitral Award, shall be in writing, shall be signed by members of Arbitral Tribunal, shall state the reasons on which the Award is based, date and place of arbitration shall be decided. The Act provides that after passing the Award, a signed copy of the Award shall be delivered to each party.
Question 5
1 / -0

A sum directed to be paid by an arbitral award shall carry interest ________.

A
$$@ 6\%$$ per annum from the date of the award till the date of payment

B
$$@ 12\%$$ per annum from the date of the award till the date of payment

C
$$@ 18\%$$ per annum from the date of the award till the date of payment

D
$$@ 24\%$$ per annum from the date of the award till the date of payment

Solution

It is been provided under Section 31 (7) (b) of the Arbitration and Conciliation Act, 1996. According to the Arbitration and Conciliation Act, 1996, an Arbitral Award, shall be in writing, shall be signed by members of Arbitral Tribunal, shall state the reasons on which the Award is based, date and place of arbitration shall be decided. The Act provides that after passing the Award, a signed copy of the Award shall be delivered to each party.
Question 6
1 / -0

Which of the following in the correct statement?

A
An arbitral award can be inferred with if it is contrary to the substantive provisions of the Act or against the terms of the contract.

B
An arbitral award can be set aside if the arbitral tribunal has not followed the mandatory procedure prescribed under the Act.

C
An arbitral award can be set aside if it is contrary to fundamental policy of Indian law, or the interest of India, or justice or morality.

D
All of the above

Solution

Section 34 provides that an arbitral award may be set aside by a court on certain grounds specified therein. Under section 34 of the Act, a party can challenge the arbitral award on the grounds such as the parties to the government are under some incapacity; the agreement is void and many others.
Question 7
1 / -0

Which one of the following is incorrect statement ?

A
An arbitral award is a contract.

B
An arbitral award must be in writing and signed.

C
An arbitral award includes an interim award.

D
None of the above

Solution

According to the Arbitration and Conciliation Act, 1996, an Arbitral Award, shall be in writing, shall be signed by members of Arbitral Tribunal, shall state the reasons on which the Award is based, date and place of arbitration shall be decided. The Act provides that after passing the Award, a signed copy of the Award shall be delivered to each party.
Question 8
1 / -0

After the arbitral award is made, each party shall be delivered _______.

A
the original award

B
a signed copy of the award

C
a photocopy of the award

D
an unsigned copy of the award

Solution

According to the Arbitration and Conciliation Act, 1996, an Arbitral Award, shall be in writing, shall be signed by members of Arbitral Tribunal, shall state the reasons on which the Award is based, date and place of arbitration shall be decided. The Act provides that after passing the Award, a signed copy of the Award shall be delivered to each party.
Question 9
1 / -0

Private arbitration is also described as _______.

A
integral arbitration

B
consensual arbitration

C
domestic arbitration

D
none of the above

Solution

Private arbitration is the referral of a dispute to an impartial third person chosen by the parties who agree in advance to be bound by the arbitrator's decision after hearing in which both parties have an opportunity to be heard. It is also known as Consensual arbitration.
Question 10
1 / -0

An arbitral award becomes enforceable when _______.

A
the time for making an application for setting aside the arbitral award has expired and no such application has been made

B
an application for setting aside the arbitral award has been refused

C
either (a) or (b)

D
neither (a) nor (b)

Solution

If the objections to the award are not sustained (or if there are no objections within the time allowed) the award itself becomes enforceable as if it were a decree of the court. According to the Arbitration and Conciliation Act, 1996, an Arbitral Award, shall be in writing, shall be signed by members of Arbitral Tribunal, shall state the reasons on which the Award is based, date and place of arbitration shall be decided. The Act provides that after passing the Award, a signed copy of the Award shall be delivered to each party.

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Arbitration, Tribunal Adjudication and Alternate Dispute Resolution Test 9

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Arbitration, Tribunal Adjudication and Alternate Dispute Resolution Test 9

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SHARING IS CARING

Question 1

is chosen and paid by the disputant

acts in accordance with privately chosen procedure so far as that is not repugnant to public policy

only (a) is correct

both (a) and (b) are correct

Solution

Question 2

when the parties involved in commercial transaction choose to incorporate arbitration clause as a part of agreement to refer their future disputes

when a dispute that arose between the parties to a business transaction could not be settled through mediation or conciliation

when the parties agree to submit to arbitration 'all or any' differences which have arisen or may arise

only (b) and (c)

Solution

Question 3

a body corporate which is incorporated in any country other than India

the Government of a foreign country

an individual who is a national of, or habitually resident in any country other than India

all of the above

Solution

Question 4

not be binding on parties

be binding on government authority

be binding on first party only

be binding on the parties and person claiming under then respectively

Solution

Question 5

$$@ 6\%$$ per annum from the date of the award till the date of payment

$$@ 12\%$$ per annum from the date of the award till the date of payment

$$@ 18\%$$ per annum from the date of the award till the date of payment

$$@ 24\%$$ per annum from the date of the award till the date of payment

Solution

Question 6

An arbitral award can be inferred with if it is contrary to the substantive provisions of the Act or against the terms of the contract.

An arbitral award can be set aside if the arbitral tribunal has not followed the mandatory procedure prescribed under the Act.

An arbitral award can be set aside if it is contrary to fundamental policy of Indian law, or the interest of India, or justice or morality.

All of the above

Solution

Question 7

An arbitral award is a contract.

An arbitral award must be in writing and signed.

An arbitral award includes an interim award.

None of the above

Solution

Question 8

the original award

a signed copy of the award

a photocopy of the award

an unsigned copy of the award

Solution

Question 9

integral arbitration

consensual arbitration

domestic arbitration

none of the above

Solution

Question 10

the time for making an application for setting aside the arbitral award has expired and no such application has been made

an application for setting aside the arbitral award has been refused

either (a) or (b)

neither (a) nor (b)

Solution

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