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Meaning of ARBITRATION

Pronunciation:  `ârbi'treyshun

 
WordNet Dictionary
 
 Definition: 
  1. [n]  the act of deciding as an arbiter; giving authoritative judgment; "they submitted their disagreement to arbitration"
  2. [n]  (law) the hearing and determination of a dispute by an impartial referee agreed to by both parties (often used to settle disputes between labor and management)
 

ARBITRATION is a 11 letter word that starts with A.

 

 Synonyms: arbitrament, arbitrement
 
 See Also: judgement, judgment, judicial decision, mediation

 

 

Webster's 1913 Dictionary
 
 Definition: 
\Ar`bi*tra"tion\, n. [F. arbitration, L. arbitratio,
fr. arbitrari.]
The hearing and determination of a cause between parties in
controversy, by a person or persons chosen by the parties.

Note: This may be done by one person; but it is usual to
      choose two or three called arbitrators; or for each
      party to choose one, and these to name a third, who is
      called the umpire. Their determination is called the
      award. --Bouvier

{Arbitration bond}, a bond which obliges one to abide by the
   award of an arbitration.

{Arbitration of Exchange}, the operation of converting the
   currency of one country into that of another, or
   determining the rate of exchange between such countries or
   currencies. An arbitrated rate is one determined by such
   arbitration through the medium of one or more intervening
   currencies.

 
Legal Dictionary
 
 Definition: The hearing of a dispute by an impartial third person or persons (chosen by the parties), whose award the parties agree to accept.
 

 

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