When two parties to a contract, marriage, business venture or other have a dispute, there are a number of ways to settle those disputes. The parties can file suit and go to court, mediate, perform informal negotiations, or they can arbitrate.
Arbitration is an alternative dispute resolution option in which parties agree to submit their dispute to a neutral arbitrator (or arbitrators) who will issue a binding decision.
Arbitration can be an attractive option for dispute resolution for the following reasons:
In Virginia and North Carolina, arbitration clauses are generally enforceable if they are part of a valid agreement. If all the requirements of a valid contract are met, arbitration clauses will be upheld – this provides another benefit in that it can prevent a rogue counter-party from pushing to formal litigation without first attempting the agreed upon arbitration.
Unfortunately, arbitration does not always go as smoothly as parties intend. If necessary, a court may vacate an arbitrator’s award. A party who desires to have an award vacated must prove corruption, fraud, undue means, or that the arbitrator was partial or exceeded his/her power.
You may want to consider adding an arbitration provision for your business. However, arbitration provisions should not be used in every contract, so we recommend seeking legal advice to determine whether an arbitration provision is right for your unique situation. Give our office a call today to talk through those options! Our team is standing by to help with all legal needs for your business. Would arbitration best suit the legal needs of your business? Does your business need an arbitration clause in its important contracts? Please reach out to us! Our team provides turn-key solutions to your business through an efficient streamlined process. We have assisted hundreds of businesses determine the best contract provisions, including whether to utilize arbitration. Give us a call today!
McCormick Law & Consulting was integral in the creation of our non-profit. We promised our 12 y/o son that we would keep fighting cancer for kids like him but we couldn’t have kept that promise without John McCormick and his team. We were hooked at our first meeting when John simply asked “ Tell me about you son.” McCormick Law and Consulting took care of all the legal work while allowing us to focus on our mission. John and his team continue to be a great resource and supporter of D-Feet Cancer The Dalton Fox Foundation. We couldn’t have asked for better legal representation. Thank you McCormick Law & Consulting.
I definitely could have created my new business, Davis Wealth Management LLC, but boy that would have been a mistake. Because business formation is not an area in which I practice, I had no idea where my blind spots were, and let me tell you there were plenty. The knowledge I received from the firm is invaluable.
John McCormick and his firm are very reasonably priced and quickly and efficiently assisted me in creating my new business. It was completely turn key; they did everything for me. I can't recommend their services enough. Also, huge shoutout to Taylor who kept me informed every step of the way!
John and his team were great to work with. They provided advice for starting my business and set everything up in an efficient and timely manner. I will definitely recommend them to others!
I contacted McCormick Law firm to register my moving service in NC. They did an outstanding job. Completed the process way sooner than I expected. Thank you, Taylor.
McCormick Law, PC d/b/a McCormick Law & Consulting and Driving Defense Law is a boutique law firm located in Norfolk, Virginia & Raleigh, North Carolina, that seamlessly serves clients throughout Virginia and North Carolina. Whether you are a new or existing client of the firm, McCormick Law, PC, cannot represent you on any new matter until the firm has made a determination that there is no conflict of interest and that it is willing to accept the new engagement. The testimonials on this website reflect the real-life experiences and opinions of our clients. However, the experiences are personal to those particular clients, and may not necessarily be representative of all clients. We do not claim, and you should not assume, that all clients will have the same experience. Your outcome may vary.
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