HopefullyInLawSchool
16:06
Warning
Info
Warning
Info
LSDefine
Simple English definitions for legal terms
American Arbitration Association
Read a random definition: runaway grand jury
A quick definition of American Arbitration Association:
The American Arbitration Association, also known as AAA, is a group of people who help solve problems between workers and businesses. They listen to both sides and make a fair decision to help solve the problem.
A more thorough explanation:
AMERICAN ARBITRATION ASSOCIATION
The American Arbitration Association (AAA) is a national organization that provides a panel of arbitrators to hear disputes related to labor and commerce. The AAA is an abbreviation for the American Arbitration Association.
Example 1: A company and a labor union are unable to reach an agreement on a new contract. They decide to use the American Arbitration Association to select an arbitrator who will hear their case and make a final decision.
Example 2: Two businesses have a dispute over a contract. They agree to use the American Arbitration Association to select an arbitrator who will hear their case and make a final decision.
The American Arbitration Association is a neutral third-party organization that provides a panel of arbitrators to hear disputes related to labor and commerce. The examples illustrate how the AAA can be used to resolve disputes between parties who are unable to reach an agreement on their own. In both examples, the parties agree to use the AAA to select an arbitrator who will hear their case and make a final decision. This process allows for a fair and impartial resolution to the dispute.
American Accounting Association | American Bankers Association