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Activity:
Question posted: 09 21 2010 04:31:47 +0000,
2 answers, 97 views, last activity
12 22 2010 13:56:44 +0000
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Can the parties to an agreements enter into agreement on terms like:
- The CEO of one Party shall be arbitrator on disputes between the parties and neither shall have right to challange the same in Court.
or
- The Parties shall not have right to appeal against the order of Trial Court
Or
- The Arbitration Award shall be final and Parties shall have no right to challange the award in Court.
Whether the above terms shall stand the test of Validity in Court of Law.
on the first issue, if there is an agreement between the parties for referring the matter to arbitration in case a dispute arose between them, in such case even if either party approach to the court contrary to agreement then it is mandatory upon the court to refer the matter to arbitration under the arbitration and conciliation act, 1996.
on the other next two issues, refering section 28 of the indian contract act, which declares any such restiction void. moreover no estoppel is available against a statute. therefore, upon the rules and priciples it can be said that even though there exist any such agreement, the parties are entitled to approach the court or challenge the award.
I agree with 2 and 3 .....
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