Question

In: Accounting

1- Take this opportunity to tell me (1) 4 different types of methods of resolving business...

1- Take this opportunity to tell me (1) 4 different types of methods of resolving business disputes, (2) briefly describe each, and (3) at least two advantages and one disadvantage of each method.

Method of resolving dispute	Brief description	Advantages	Disadvantages
1. Negotiation
	Using a third party expert to give an opinion, and try to resolve the case.
		Usually faster and cheaper than litigation, final decision, nonpublic
			Costly, takes longer, usually destroys business relationship

2- What are 4 things that a CEO or the Board of Directors can do to promote ethical behavior within the company?

3- Tell me the difference between a question of law and a question of fact, who decides facts, and then tell me which court (trial or appellate) would handle only questions of law.

Difference between a question of law and a question of fact

Who decides facts,

Which court (trial or appellate) would handle only questions of law

Expert Solution

1. Methods of dispute resolutio are:

Negotiation, Mediation, Arbitration, Litigation

Method

Brief Description

Advantages

Disadvantages

Negotiation

It is the discussion among the parties in conflict with an aim to find the solution and set put the differences

Quick, inexpensive, private, confidential, can result in a win win situation

Unstructured, informal and depends on voluntary participation

Mediation

Using a third party expert to give an opinion, and try to resolve the case

Private, confidential, promotes communication between parties, can make mutually acceptable decisions

The decisions are not binding, slightly unstructured, does not work entirely as per the legal system

Arbitration

The impartial person (arbitrator) is provided with the case to resolve it

Usually faster and cheaper than litigation, final decision, nonpublic

The conflicting parties do not have a greater say in the final decision

Litigation

Uses the courts and the justice system to resolve the case

final and binding decision, structured, runs as per laws

Costly, takes longer, usually destroys business relationship

ekkarill92 answered 2 years ago

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