PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
The Parties may include in their contract which of the following?
a. a cluse mandating choice of method of dispute resolution.
b. a clause mandating choice of forum.
c. a clause mandating choice of law
d. clauses mandating all three. -
correct answer ✅d. clauses mandating all three.
A two-party private method for resolving a dispute includes:
a. do nothing
b. negotiation
c. mediation
d. arbitration -
correct answer ✅b. negotiation
A three-party private methods for resolving a dispute includes
______________ where the neutral third party is both the trier of
fact and law.
,PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
a. negotiation
b. mediation
c. arbitration
d. litigation -
correct answer ✅c. arbitration
If the parties have not stipulated to an exclusive method of dispute
resolution in their contract, the initiation of which public process
would provide the most stimulus to encourage the breaching party
to participate in a private process?
(a) negotiation
(b) court-ordered mediation
(c) court-ordered arbitration
(d) public litigation -
correct answer ✅(d) public litigation
Which method of dispute resolution does not have a jury to decide
questions of fact?
,PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
(a) negotiation
(b) mediation
(c) arbitration
(d) litigation -
correct answer ✅(c) arbitration
Which method of private dispute resolution is the most expensive?
(a) do nothing
(b) negotiation
(c) mediation
(d) arbitration -
correct answer ✅(d) arbitration
Which method of dispute resolution will produce the least
predictable result?
(a) negotiation
, PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
(b) mediation
(c) arbitration
(d) litigation (with a jury) -
correct answer ✅(d) litigation (with a jury)
Which method of dispute resolution could have more than one
decision maker to decide both questions of fact and issues of law?
(a) negotiation
(b) mediation
(c) arbitration
(d) litigation -
correct answer ✅(c) arbitration
The method of dispute resolution where a neutral third party
assists the parties in resolving their own dispute.
(a) negotiation
(b) mediation
Law, and Business Organizations
Exam Questions And Answers
The Parties may include in their contract which of the following?
a. a cluse mandating choice of method of dispute resolution.
b. a clause mandating choice of forum.
c. a clause mandating choice of law
d. clauses mandating all three. -
correct answer ✅d. clauses mandating all three.
A two-party private method for resolving a dispute includes:
a. do nothing
b. negotiation
c. mediation
d. arbitration -
correct answer ✅b. negotiation
A three-party private methods for resolving a dispute includes
______________ where the neutral third party is both the trier of
fact and law.
,PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
a. negotiation
b. mediation
c. arbitration
d. litigation -
correct answer ✅c. arbitration
If the parties have not stipulated to an exclusive method of dispute
resolution in their contract, the initiation of which public process
would provide the most stimulus to encourage the breaching party
to participate in a private process?
(a) negotiation
(b) court-ordered mediation
(c) court-ordered arbitration
(d) public litigation -
correct answer ✅(d) public litigation
Which method of dispute resolution does not have a jury to decide
questions of fact?
,PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
(a) negotiation
(b) mediation
(c) arbitration
(d) litigation -
correct answer ✅(c) arbitration
Which method of private dispute resolution is the most expensive?
(a) do nothing
(b) negotiation
(c) mediation
(d) arbitration -
correct answer ✅(d) arbitration
Which method of dispute resolution will produce the least
predictable result?
(a) negotiation
, PARA 1150: Contracts, Commercial
Law, and Business Organizations
Exam Questions And Answers
(b) mediation
(c) arbitration
(d) litigation (with a jury) -
correct answer ✅(d) litigation (with a jury)
Which method of dispute resolution could have more than one
decision maker to decide both questions of fact and issues of law?
(a) negotiation
(b) mediation
(c) arbitration
(d) litigation -
correct answer ✅(c) arbitration
The method of dispute resolution where a neutral third party
assists the parties in resolving their own dispute.
(a) negotiation
(b) mediation
