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Judiciary Exams Exam  >  Judiciary Exams Tests  >  Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Judiciary Exams MCQ

Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Judiciary Exams MCQ


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10 Questions MCQ Test - Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act

Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act for Judiciary Exams 2024 is part of Judiciary Exams preparation. The Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act questions and answers have been prepared according to the Judiciary Exams exam syllabus.The Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act MCQs are made for Judiciary Exams 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act below.
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Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 1
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What is the primary role of an arbitrator in the arbitration process?

Detailed Solution for Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 1
The primary role of an arbitrator in the arbitration process is to facilitate communication between the parties involved and to impartially evaluate the evidence presented. Unlike a judge in a court setting, an arbitrator does not advocate for one party over the other but rather acts as a neutral third party responsible for making a binding decision based on the facts and arguments presented. This helps ensure a fair and efficient resolution to the dispute, promoting a quicker and more amicable outcome for all parties involved.
Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 2
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What distinguishes domestic arbitration in India from international commercial arbitration?

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Domestic arbitration in India is characterized by arbitration proceedings taking place within the country or the habitual residence of the parties involved. On the other hand, international commercial arbitration can occur either in India or outside the country, depending on the agreement of the parties. This distinction is crucial as it determines the jurisdiction and the procedural aspects of the arbitration process.
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Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 3
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According to the Arbitration and Conciliation Act, 1996, what step must parties take if they fail to agree on the selection of an arbitrator?

Detailed Solution for Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 3
According to the Arbitration and Conciliation Act, 1996, if parties fail to agree on the selection of an arbitrator, they must approach the Court for arbitrator appointment. This ensures that a neutral and qualified arbitrator is appointed to facilitate the resolution of the dispute in a fair and unbiased manner. It is a crucial step in the arbitration process to ensure that both parties have confidence in the arbitration proceedings and the eventual decision that will be made.
Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 4
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In arbitration proceedings, what type of award is a temporary decision made by the tribunal during ongoing proceedings?
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An interim award is a temporary decision made by the tribunal during ongoing proceedings in arbitration. It is a provisional measure that can only be granted by the tribunal authorized to issue a final award. Interim orders commonly involve money payments or property arrangements between the involved parties to address urgent matters before the final award is issued.
Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 5
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What is the significance of selecting the seat of arbitration in the arbitration process?
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Selecting the seat of arbitration is crucial as it significantly influences the legal framework of the arbitration process. The choice of seat determines the applicable rules governing the arbitration proceedings and the rights associated with enforcing arbitration awards. Different jurisdictions have their own distinct sets of rules governing arbitration, making the selection of the seat a critical decision for parties involved in arbitration.
Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 6
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What does the venue refer to in the context of arbitration proceedings?
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In the realm of arbitration, the venue signifies the selected location where arbitration meetings transpire. Typically, in institutional arbitration, this location aligns with the institution's headquarters. Conversely, in ad hoc arbitration, parties hold the autonomy to mutually decide on the venue. This choice plays a critical role, especially when arbitration agreements remain silent on the seat and venue, as it can influence the appropriate court governing the arbitration process.
Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 7
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When is a case considered time-barred?
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Arbitration proceedings initiated more than three years after the cause of action arose are considered time-barred. This limitation period is crucial in ensuring that disputes are resolved in a timely manner, promoting efficiency in the arbitration process. It highlights the significance of parties initiating arbitration proceedings promptly after the occurrence of a dispute to avoid potential time-bar issues.

Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 8
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What is a key aspect of the parties' autonomy in arbitration?
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The parties involved in arbitration have the autonomy to establish their own procedural rules for the arbitration process. This aspect of autonomy allows them to customize the arbitration proceedings based on their specific needs and preferences, promoting a more flexible and tailored dispute resolution process.

Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 9
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What can lead to the invalidation of an arbitration agreement?
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One of the reasons that can invalidate an arbitration agreement is if the arbitral award extends beyond the agreed scope of arbitration, including decisions on matters not submitted for arbitration. This highlights the importance of ensuring that the arbitration process stays within the boundaries set by the parties involved to maintain the validity of the agreement.

Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 10
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What is a critical initial step in the arbitration process that significantly influences the entire procedure?
Detailed Solution for Test: Conduct of Arbitral Proceeding under Arbitration and Conciliation Act - Question 10
The meticulous drafting of the arbitration clause or agreement is a crucial step in the arbitration process as it lays down the framework within which disputes will be resolved. The arbitration clause typically includes essential details such as the parties involved, the scope of disputes covered, the selection of arbitrators, the governing law, and procedural rules. A well-drafted arbitration clause helps in preventing future disputes about the arbitration process itself, ensuring a smoother resolution process.
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