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Full-Text Articles in Commercial Law
The Binding Force Of International Arbitral Awards, William W. Park, Jan Paulsson
The Binding Force Of International Arbitral Awards, William W. Park, Jan Paulsson
Faculty Scholarship
A party that submits a controversy to arbitration may later regret having abandoned recourse to the courts. Once the award is rendered, the chosen arbitrator may no longer seem so wise to the losing party, who may refuse to comply with his decision. A legal system must therefore legitimize the arbitrator's authority if the award is to be more than an unenforceable attempt at conciliation.
The Lex Loci Arbitri And International Commercial Arbitration, William W. Park
The Lex Loci Arbitri And International Commercial Arbitration, William W. Park
Faculty Scholarship
Luke's gospel reports that Jesus once declined to arbitrate a family dispute over an inheritance by asking a disgruntled sibling, "Who set me over you to arbitrate?" Private resolution of business disputes raises a related question: whence springs the arbitrator's authority to render a binding award? A company that submits a controversy to arbitration may later regret having abandoned recourse to the courts. On the day of reckoning, the sage chosen to decide the dispute may no longer seem so wise to the losing party, and the loser might consider refusing to comply with the arbitrator's decision. Some legal system, …