Arbitration

• Requires absolute agreement between parties
• Parameters of arbitration - 1 or 3 typical arbitrators. 1 likely here since this is not complex.
• Modified, very relaxed legal proceeding. Not looking strictly at rules of procedure or evidence
• Typically - decision on the spot. Once ruled - that's it
• If he goes nuts - does rulings outside of scope or law - that can be appealed. Can't go back and say arbit was wrong, or ignored facts, or applied wrong law. Stuck with it, that's it.
• 2 ways to do it: very informally - we all agree to an arbitrator, who sets the rules.
• Or more common: some arbitral org - American Arbitration Association, is biggest one.
• Approach an org - org comes with a set of rules. We get to pick the org.
• We can suggest characteristics of arbit - such as knowledge in property law.