Definitions for: Arbitration


[n] the act of deciding as an arbiter; giving authoritative judgment; "they submitted their disagreement to arbitration"
[n] (law) the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle disputes between labor and management)



Webster (1913) Definition: Ar`bi*tra"tion, n. [F. arbitration, L. arbitratio,
fr. arbitrari.]
The hearing and determination of a cause between parties in
controversy, by a person or persons chosen by the parties.

Note: This may be done by one person; but it is usual to
choose two or three called arbitrators; or for each
party to choose one, and these to name a third, who is
called the umpire. Their determination is called the
award. --Bouvier

Arbitration bond, a bond which obliges one to abide by the
award of an arbitration.

Arbitration of Exchange, the operation of converting the
currency of one country into that of another, or
determining the rate of exchange between such countries or
currencies. An arbitrated rate is one determined by such
arbitration through the medium of one or more intervening
currencies.

Synonyms: arbitrament, arbitrement

See Also: judgement, judgment, judicial decision, mediation

 Try our:
Scrabble Word Finder

Scrabble Cheat

Words With Friends Cheat

Hanging With Friends Cheat

Scramble With Friends Cheat

Ruzzle Cheat



Related Resources:
animals beginning with g
this site
animals starting with t