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arbitration  bond.A  performance  bond  executed  by  the   parties  in  an  arbitration.  See PERFORMANCE BOND(1). [Blacks Law 8th]

arbitration board.A  panel of arbitrators appointed to  hear and  decide a  dispute according to the rules of arbi-tration. [Cases: Arbitration    26. C.J.S. Arbitration §§ 60, 62.] [Blacks Law 8th]

arbitration  and  award.An  affirmative  defense  asserting  that  the  subject  matter  of  the  action has already been settled in arbitration. [Blacks Law 8th]

arbitration act.A federal or state statute providing for the submission of disputes to arbitration. [Cases: Arbitra-tion    2. C.J.S. Arbitration § 4.] [Blacks Law 8th]

arbitration,n. A method of dispute resolution involving one or more neutral third parties who are  usu.  agreed  to  by  the  disputing  parties  and  whose  decision  is  binding.  —  Also  termed (redundantly) binding arbitration. Cf. MEDIATION(1). [Cases: Arbitration    1. C.J.S. Arbitration §§ 2–3.] — arbitrate,vb. — arbitral,adj. ad hoc arbitration.Arbitration of only one issue. adjudicative-claims arbitration.Arbitration…

arbitrary trademark.See TRADEMARK. [Blacks Law 8th]

arbitrary name.See arbitrary trademark under TRADEMARK. [Blacks Law 8th]

arbitrary mark.See arbitrary trademark under TRADEMARK. [Blacks Law 8th]

arbitrary,adj.1. Depending on individual discretion; specif., determined by a judge rather than by fixed rules, procedures, or law. 2. (Of a judicial decision) founded on prejudice or preference rather than on reason or fact. • This type of decision is often termed arbitrary and capricious. Cf. CAPRICIOUS. [Blacks Law 8th]

arbitrament and  award.A  plea  that  the  same  matter  has  already  been  decided  in  arbitration. [Cases: Arbitration    81–82. C.J.S. Arbitration §§ 124–129, 148, 150–155.] [Blacks Law 8th]