In: Accounting
Define the following terms: trial, appeal, plaintiff, defendant, standing, jurisdiction, alternative dispute resolution, negotiation, arbitration, & mediation
Trial – A trial is a formal meeting in the court in which judge examines the evidences, usually in front of jury members, to deliver judgement on the civil or criminal case.
Appeal – An appeal is a process in which the judgement of a subordinate court is challenged in the subsequent superior court. For example – judgement passed by High Court can be appealed in Supreme Court.
Plaintiff – Plaintiff is the person who files the case against someone in the court for claiming the damages done to him.
Defendant – Defendant is the person against whom the case has been filed in the court by the plaintiff. He is accused of commuting a crime and he has to defend himself by providing reasonable evidences.
Standing – Standing means the status of being qualified to bring a suit to the court. It is the ability of the party to show to the court that sufficient damage has been done to him or the law.
Jurisdiction – Jurisdiction is the authority given to a court by the law to take up the cases within specified areas in terms of geographical boundaries or certain types of cases.
Alternative dispute resolution – It is concerned with settling the disputes by other means such as negotiation, arbitration or mediation rather than litigation.
Negotiation – It is a form of alternative dispute resolution in which parties come together and persuade each other to negotiate the terms of the case in order to find a solution without bringing in litigation. Discussion is done and dispute is settled through mutual compromise.
Mediation – It is a non- binding procedure in which a neutral mediator is appointed to settle the dispute by bringing both the parties to mutually agreed terms.
Arbitration – It is the process to settle the dispute by appointing one or more persons as arbitrators who after listening to both the parties gives the arbitration award. The decision of the arbitrators is binding on the parties and is enforceable in court.