What is ARBITRATION?

In practice. The investigation and determination of a matter or matters of difference between contending parties, by one or more unofficial persons, chosen by the parties, and called “arbitrators,” or “referees.” Duren v. Getchell, 55 Me. 241; Henderson v. Beaton”, 52 Tex. 43; Boyden v. Lamb. 152 Mass. 416, 25 N. E. 609; In re Curtis-Castle Arbitration, 64 Conn. 501. 30 Atl. 769. 42 Am. St. Rep. 200. Compulsory arbitration is that which takes place when the consent of one of the parties is enforced by statutory provisions. Voluntary arbitration is that which takes place by mutual and free consent of the parties. In a wide sense, this term may embrace the whole method of thus settling controversies, and thus include all the various steps. But in more strict use, the decision is separately spoken of, and called an “award,” and the “arbitration” denotes only the submission and hearing.

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