Mediation And Arbitration
Consider the given statements in contest to the difference between Mediation and Arbitration:
- In arbitration, the outcome is determined in accordance with an objective standard, the applicable law.
- In mediation, any outcome is determined by the will of the parties.
- In arbitration, a party's task is to convince the arbitral tribunal of its case. It addresses its arguments to the tribunal and not to the other side.
- In mediation, since the outcome must be accepted by both parties and is not decided by the mediator, a party's task is to convince, or to negotiate with, the other side.
Choose the incorrect statement(s) from the options give below:
1 and 2
3 and 4
All of the above