Samuel Estreicher, a professor at New York University School of Law and of counsel to Jones Day, and Steven C. Bennett, a partner at Jones Day, discuss potential state public policy limitations on the ability of parties to grant or deny power to arbitrators to award punitive damages in the arbitration of contract disputes, and suggest some drafting solutions to such limitations.
July 11, 2006 at 12:00 AM
1 minute read
Parties often agree to arbitration in hopes of resolving their disputes in a faster, less-expensive, more-effective and less-formal manner than may be available in ordinary court proceedings.
Arbitration agreements and arbitration clauses in contracts may limit the issues to be arbitrated and may specify the rules under which the arbitration will be conducted. 1
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