ShmoopTube

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finance a la shmoop what is arbitration? was it Shakespeare who mused about [Shakespeare on stage discussing arbitration]

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killing all the lawyers, wasn't that Henry the sixth or something mmm well if he

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done so well that'd make arbitration not necessary...So first what is arbitration?

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well basically it's the adjudication of a case outside of the formal normal

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court system which is massively clogged in the United States like it needs a [Man unclogging toilet]

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million gallon enema kind of clogged... The cost of fully adjudicating cases has

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become astronomically expensive and time-consuming and filled with silly [Contract loopholes highlighted]

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loopholes that make getting to a real just conclusion painful if not

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impossible so it has become common practice for parties entering a

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partnership or a contract in whatever form to agree to arbitration if a big

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fat hairy conflict arises down the road you know...In arbitration both sides agree [A hairy monster appears in the woods]

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to hiring a separate judge usually a retired judge from the normal court

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system.. In arbitration

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everyone simply relies on the arbitrating judge to be fair lots of [Judge stamped fair]

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silly loopholes go away and "justice" in whatever form is

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arrived at well hopefully faster and if that doesn't work well you can always do [Shakespear carrying a lawyer on a ship and throws him overboard]

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things to Shakespeare way...

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