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Bind or binding means to impose one or more legal duties on a person or institution. For example, the parties are bound by the terms of the contract; the courts are bound by precedents.
The words to bind or binding are also used to signify that a thing is subject to an obligation, engagement or liability; to indenture; to legally obligate to serve.
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Wiki User
∙ 14y ago
Wiki User
∙ 13y agoA binding decision is when you will have to follow the decision made by a 3rd party or a court(a judge).
Arbitration is an example of binding decision
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Is a decision given by a court binding on an inferior court?
The decision of the court is ALWAYS binding on everyone, unless it is appealed to a higher court which may overturn the decision.
Do arbitrators render legally binding decisions?
yes, If the parties involved agree that the decision made will be legally binding
When a neutral third party makes a decision that is binding what is it called?
Binding arbitration
What is ratio decidendi?
The part of decision which is binding
When parties are not compelled to comply with the arbitrators decision it is a?
non binding arbitration
What is a Non binding arbitration?
In binding arbitration, the parties contractually agree that they will be bound and abide by the decision of the arbitrator. In non-binding arbitration, each party is free to reject the decision of the arbitrator and either do nothing or take the matter to court.
Why does it make sense that a supreme court decision is not permanently binding?
The decision is binding for the particular case decided on by the Court. Of course the Government can change the law, and that law must be obeyed.
What are the similarities between a decision reached in a binding mediation and a civil trial decision?
They both are enforceable and have the effect of law.
When parties are not compelled to comply with arbitrators decision it is a?
non binding arbitration
When parties compel not to comply with the arbitrator decision it is a?
Non-binding arbitration
Is arbitration formal?
Yes, arbitration is a formal though streamlined process. It is more streamlined that the standard litigation process. Never the less, the parties may choose whether the arbitration is to be binding or non-binding. If binding, the arbitrator's decision is final and the parties must comply with it. If non-binding, the parties may either accept the decision or reject it and pursue litigation.
What is a decision made by a higher court such as a US Court of Appeals Circuit Court or the US Supreme Court that is binding on all federal courts?
A decision made by a higher court sets a binding precedent for the inferior court(s).
