Different Types of Litigation
Litigation and arbitration both have the same aim, but in practice how they proceed is very dissimilar. As far as resolving a dispute is concerned, Litigation is a much older system based on a specific legal tradition rooted in hundreds of years of Anglo-American and English history and jurisprudential practice. Arbitration, on the other hand, has been around since the mid-nineteenth century.
The main difference between the two is that in Litigation you have an objective third party in front of you and arbitration only involves you. In this manner the arbitrator has to be unbiased in order to decide the case fairly, unlike a jury who are often not impartial and therefore can make decisions that may not be in your best interest.
When arbitration comes into play, the parties have to enter into an agreement with their attorneys before the case begins. These contracts are called “Arbitration Agreements”. Although there are many forms of Arbitration Agreements, one of the most common is the “Triple Agreement.”
There are several common types of arbitrations. The most common type of arbitration is called “Triple Settlement.” In this instance, you, your attorney and a third party have agreed on a settlement amount and a timeframe for the case to be resolved. It is usually followed by a “Mediation” where the parties get together and attempt to reach a settlement.
While a Triple Settlement is the most common form of arbitration, there are some other types of arbitration which are much less common, and may only occur when a settlement cannot be reached with either the plaintiff or the defendant. Some common types of “Triple Settlements” include:
Mediation – A mediation is where the parties come together in order to resolve the dispute without the use of a court. During a mediation, the parties are allowed to talk with each other and reach agreement. Often mediation is the only method used for settling disputes involving a large amount of money. However, a mediator is not required and typically the parties simply do not attend court. to resolve their disputes.
Arbitration – An “Arbitration” is a situation where a plaintiff and defendant have to appear in court in order to resolve their dispute in court. In many instances, the plaintiff and the defendant will have to go to court. a trial after a settlement is reached. In these cases the defendant’s lawyer will bring the case to court in order to resolve the dispute between the parties. This is the most common type of litigation.
Whether you prefer to see a Litigation or arbitration, both have their pros and cons. While Litigation allows you to get to court fast in most cases, it is not always an option, because in many cases a lawsuit is not the way to go. In most cases arbitration can save a lot of time and money, so if you have a dispute that involves a large sum of money, you should go with Litigation.
One of the main advantages of Litigation is the fact that it allows the parties to resolve the matter without going to court. There are a number of disadvantages to this method of resolving a dispute however, including that a judge cannot take a person’s word on whether or not they are telling the truth, as it would be up to them to verify what they say.
Another disadvantage of arbitration is that arbitration may be expensive, depending on how extensive the dispute. is and how much work has to be done.
Another main disadvantage of litigation is that it does not allow the parties to put their best side out on the table for a judge to see. and to have their side heard. to be presented to the judge, which means a judge may have a limited amount of information to work with at a certain point.