Foundations of Laws and Rules Essay Example | Topics and Well Written Essays - 500 words

Foundations of Laws and Rules - Essay Example As to effectivity, the former takes effect upon the recognition by the court while the latter may take effect at a later date as embodied in the formal instrument. Common law is amended by slow changes over time while statutory laws requires an enactment of either a new law that superceeds, modifies or amends the old law. The parties can move for arbitration or file a suit. In proceeding to an alternative dispute resolution or arbitration the parties present the facts to arbitrators that are trained experts familiar with the industry practices thus their assessment of the issue may affect the nature and outcome of the dispute. The fears of the parties are put to rest since the arbitrators are well knowledgeable in the problems in real estate development. In filing a suit, the court may be appraised of problems in real estate development through the presentation of an expert witness who has special expertise on the matter and can explain it to the court (Daubert v. Merrell Dow Pharmaceauticals, Inc). Fears that the court may not be able to grasp the concept must not be entertained since there are ways of discovery that the court can employ like depositions, interrogatories and requests for production of documents. Aside from these, court processes like direct, cross examination, redirect and recross e xamination open doors for clarifications to give the court a better understanding of the issue at hand. The clause is valid. The Uniform Arbitration Act allows parties to agree in advance that all disputes arising under the contract be submitted to arbitration. Binding arbitration holds parties to respect the decision of the arbitrator as final even if the decision of the arbitrator seems to be wrong. The court will only set aside the decision if â€Å"there is clear proof of fraud, arbitrary conduct, or significant procedural error† (Trans Chemical Ltd. V Chhina Nat. Machinery Import & Export). John can either send the computer