What is “arbitration”? Although courts often use and apply the word, rarely do they stop to define it. While the FAA concerns agreements to “settle by arbitration a controversy,” the FAA does not define “arbitration,” leaving the question to the courts. Lacking definitive guidance from the U.S. Supreme Court, two lines of cases have developed
definition
Any Agreement To Submit Disputes To A Third Party Is An "Arbitration Agreement" Subject to FAA
By Liz Kramer on
Did you know that you can form an arbitration agreement without ever using the word “arbitration”? That’s what the Second Circuit held this week in Bakoss v. Certain Underwriters at Lloyds of London, __ F.3d __, 2013 238708 (2d Cir. Jan. 23, 2013).
Bakoss analyzed the clause in a disability insurance certificate providing what happens …