What is the difference between arbitration and litigation?

Arbitration and litigation are two different processes for resolving legal disputes. Arbitration is a process where a neutral third party, often an attorney, is appointed to hear both sides and decide the case. It is usually faster and less expensive than litigation. The main difference between arbitration and litigation is the way in which the dispute is resolved. In arbitration, the arbitrator makes a decision based on evidence and argument presented by both sides. This decision is binding, meaning that both parties are obligated to comply with the decision. On the other hand, in litigation, the parties present their case to a panel of judges or a jury. The jury or judge then makes a decision, which can be appealed by either party. In West Virginia, securities arbitration law is governed by the Uniform Arbitration Act, which provides that any dispute involving a security must go to arbitration. This is different from litigation, which can involve securities as well, but typically involves more complex legal arguments. Overall, the main difference between arbitration and litigation is how the dispute is resolved. While arbitration typically involves a faster and cheaper process, litigation offers more protection and the chance to appeal the outcome. In West Virginia, securities disputes must go to arbitration.

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What is the difference between arbitration and litigation?

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