What is the effect of the statute of frauds on a securities arbitration award?

The Statute of Frauds affects securities arbitration awards in North Carolina in many ways. To begin with, it requires that any agreement to arbitrate, and any awards made through arbitration, must be in writing in order for them to be enforceable. This means that both parties must consent in writing to submit the dispute to arbitration or no award can be issued. It also means that any awards must be in writing and signed by the arbitrator to be enforceable. This law also works to protect the parties involved in an arbitration proceeding. Under the Statute of Frauds, the agreement to arbitrate or the award must be signed in order to be enforceable. This helps protect the parties from any unfounded or deceptive claims regarding an agreement or award, as a signature acts as evidence of an agreement or award. Another effect of the Statute of Frauds on securities arbitration awards in North Carolina is that it creates a limitation of time to bring a claim to enforcement. The Statute of Frauds requires that any claims for enforcement must be brought within two years of the award being issued. This also provides protection to the parties involved in the arbitration as it prevents any unfounded or premature claims for enforcement. All in all, the Statute of Frauds plays an important role in securities arbitration awards in North Carolina. It helps protect the parties involved in the arbitration proceeding and establishes a limitation of time to bring claims to enforcement. It also serves as evidence that there was an agreement and an award was made, making it easier to enforce the award.

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What is the effect of the statute of frauds on a securities arbitration award?

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