Part 1- Foundations of, Chapter 2: The Resolution of Private Disputes, Doc 6 - Edubirdie

University:
Indiana University Bloomington
Course:
Financial and Managerial Accounting: Information for Decisions - John J. Wild
Academic year:

2024
Views:

358

Pages:

2
Author:

bratrochanter

Summary: The Resolution of Private Disputes (Final Section) 1. Class Actions and Limits: • • Class actions allow individuals with similar claims to sue collectively. Key Case: Wal-Mart v. Dukes (2011): o The Supreme Court denied class certification for 1.5 million female employees alleging sex discrimination. o Rationale: The claims lacked sufficient commonality in law and fact. o Impact: The decision may restrict large class actions, requiring individuals to pursue claims separately. 2. Alternative Dispute Resolution (ADR): ADR offers alternatives to litigation, often quicker and less costly. Common forms include: • • Settlement: o Most civil disputes resolve through negotiated settlements. o Settlement agreements involve the defendant paying compensation without admitting liability. Arbitration: o A neutral third party (arbitrator) resolves disputes in a binding decision (award). o Often pre-agreed in contracts via arbitration clauses. o Federal Arbitration Act (FAA): Enforces arbitration agreements and limits judicial review. Awards may only be overturned for fraud, corruption, or arbitrator misconduct. o Key Case: AT&T Mobility v. Concepcion (2011):  The Supreme Court upheld arbitration clauses banning classaction arbitration.  Implication: Strengthens the enforceability of arbitration agreements, even if state law opposes them. 3. Arbitration vs. Litigation: • • Advantages: o Faster resolution. o Lower costs. o Arbitrators may have specialized expertise. o Informality reduces procedural complexity. Criticisms: o o o May favor stronger parties. Limited judicial review risks unfair outcomes. Some arbitration clauses, embedded in contracts, are not fully understood by less sophisticated parties. 4. Judicial Review of Arbitration: • • Grounds for overturning arbitration awards are narrow under the FAA. Hall Street Associates v. Mattel (2008): Judicial review cannot be expanded by contract to include ordinary legal errors. Conclusion: ADR methods, especially arbitration, are increasingly favored for their efficiency and cost-effectiveness. However, their use raises concerns about fairness and access to justice, particularly when powerful entities impose mandatory arbitration clauses.

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Part 1- Foundations of, Chapter 2: The Resolution of Private Disputes, Doc 6

Part 1- Foundations of, Chapter 2: The Resolution of Private Disputes, Doc 6 - Page 1

Part 1- Foundations of, Chapter 2: The Resolution of Private Disputes, Doc 6 - Page 2

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