Arbitration/Mediation/Binding Arbitration

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Expert: - 3/24/2010


Question
QUESTION: Background: A dispute involves trying to sell a piece of property. It's a 50/50 partnership with binding arbitration as a last resort.

One side has hired an attorney to do their negotiating and just wants the other party to pay them half for the property.

The other side is doing their own negotiating and just wants to list the property unless the other party wants to buy them out.

The question is what will binding arbitration do to settle the dispute ?

ANSWER: Eric,

The arbitrator will decide if the buyout is reasonable between the partners or if the property should be sold on the market.  If neither party wishes to buy the property from the other, most likely the arbitrator will find it needs to be listed on the open market and sold for market price.

Very truly yours,

Paul D. Friedman, M.A., Ph.D., J.D.

---------- FOLLOW-UP ----------

QUESTION: What is the cost involved if one party decides to take the other party to binding arbitration ?

Answer
It depends on what is done before the arbitration.  If there are sworn statements (depositions), they can add up to about $100-$20 per hour transcribed.  There is the cost of the arbitrator which can run up to $500 or more per hour depending on the location.

Paul D. Friedman, M.A., Ph.D., J.D.

Arbitration/Mediation

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Paul D. Friedman, M.A., Ph.D., J.D.

Expertise

I am a licensed attorney and Judge Pro Tempore who has conducted and been involved in hundreds of mediations and thousands of arbitrations. I can answer questions regarding settlement conferences, mediations or arbitrations. I do not give legal advice over the internet and it would be helpful to list your location such as country or state.

For more information, you can view my website at WWW.EXPERTETHICS.COM

Experience

I am a licensed attorney, Judge Pro Tempore and adjunct professor.

Experience in the area
I have been a licensed attorney since 1989 and a Judge Pro Tempore since 2005. Additionally, I have a masters degree in bioethics and a doctorate of philosophy regarding comparative ethics

Organizations
State Bar of Arizona
State Bar of Colorado (inactive)
District of Columbia Bar (inactive)
Federal Bar
Licensed in Arizona District Court
Licensed in Ninth Circuit Court of Appeals
Licensed in the United States Supreme Court
American Bar Association
National Board of Trial Advocacy
American Association for Justice
Arizona Trial Lawyers Association
American Society for Bioethics and Humanities
Kennedy Institute of Ethics
National Association of Realtors

Education/Credentials
Bachelor of Arts 1985
Juris Doctorate 1989
Master of Arts in Bioethics 2004
Doctorate of Philosphy 2006

Awards and Honors
Phi Beta Kappa
Multiple Who's Who

Publications
A list of my copyrighted publications and presentations is contained at WWW.EXPERTETHICS.COM

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