RE Contracts Ch. 16 Mediation (Dispute Resolution)

  1. What is mediation?
    • -the parties can choose a person both sides agree can be of assistance for finding a settlement in a dispute of default.
    • -help for parties reach mutually agreement on a resolution of their differences without a lawsuit.
  2. A mediator agreed on by the parties does not have to have any background or training.
    -false; must be an imparial third party and have at least 40 hours of training in alternative dispute resolution techniques; both parties must agree on who
  3. The contract requires mediation by the parties of any dispute related to the contract.  A judge can order the time, date, and place and settle who will mediate if the parties cannot work such matters out.
  4. Mediation has to be before ligation.
    false, can be during; judge can appoint a mediator once a lawsuit has been filed
  5. Who pays for mediation?
    both sides pay equally; a mediator should give an estimate on cost up front
  6. If there is a dispute between the parties to the contract AFTER closing, they must
    -still mediate.
  7. The Mediation paragraph is designed for _____ duty, whereas a better agreement could be custom drafted by an attorney.
  8. The Mediation paragraph requires mediation strictly between...
    the parties in the contract; the buyer and the seller
  9. Mediation in other forms constructed by the broker, is between the
    broker and the principal they are representing
  10. What is the biggest cause  for lawsuits against brokers and sellers buy buyers?
    failure to disclose material facts about the property
  11. Mediation is an alternative to _______.
    litigation; once mediation is signed, it can be enforced in court.
  12. Arbitration
    When an uninvolved, impartial person is called in to help settle a dispute, it's called arbitration. The person in charge of the arbitration acts like an official referee, helping both sides come to an agreement.
  13. Mediation is NOT arbitration
    true; mediation seeks a win-win resolution of a dispute, unlike arbitration which seeks out a winner and a loser
  14. What does a Mediator do?
    • -helps the parties communicate their positions and explore the possible solutions
    • -facilitates the exchange of information, ideas, positions, and alternatives between both sides
  15. Possible mediators are located where..
    • -alternative dispute resolution centers; in courts (family courts)
    • -Alternative Dispute Resolution System; National Association of REALTORS 
    • -TAR and many local boards
    • -specialized groups and associations
    • -attorneys can offer mediation servies
  16. Who are the most popular person to do mediation?
  17. Psychologists can be good mediators, especially if the dispute involves a clash of...
  18. What are three popular persons for mediation?
    -attorney, psychologists, and brokers
  19. What usually happens at the initial orientation mediation meeting?
    -mediator will go over his/her background, experience, costs and techniques; also how to terminate mediation
  20. The mediator will meet with the parties _______ and _______.
    • formally and informally
    • -together and private
  21. Statements made in mediation cannot be brought to court later and used against a party, unless the information is available from sources outside the mediation process.
  22. Mediation that was assigned by court, the fees are taxed onto _________.  The cost of Mediation used through TREC form is _________.
    • -costs of court
    • -divided equally
  23. Mediation as a process tends to be highly successful.
  24. Paragraph 17 Attorney's Fees basically states what?
    The loser pays the winners fees
Card Set
RE Contracts Ch. 16 Mediation (Dispute Resolution)
mediation contract