Definitions from Black's Law Dictionary: 2nd Edition and Ballentine's Law Dictionary as are available for each term in each dictionary.
  • Ballentine's Law Dictionary

    The submission of a cause to an arbitrator. See 42 Am. St. Rep. 200.

  • Black's Law Dictionary: 2nd Edition

    In practice. The investigation and determination of a matter or matters of difference between contending parties, by one or more unofficial persons, chosen by the parties, and called "arbitrators," or "referees." Duren v. Getchell, 55 Me. 241; Henderson v. Beaton', 52 Tex. 43; Boy-den v. Lamb, 152 Mass. 416, 25 N. E. 609; In re Curtis-Castle Arbitration, 64 Conn. 501, 30 Atl. 769, 42 Am. St. Rep. 200. Compulsory arbitration is that which takes place when the consent of one of the parties is enforced by statutory provisions. Voluntary arbitration is that which takes place by mutual and free consent of the parties. In a wide sense, this term may embrace the whole method of thus settling controversies, and thus include all the various steps. But in more strict use, the decision is separately spoken of, and called an "award," and the "arbitration" denotes only the submission and hearing.
    —Arbitration elanse. A clause inserted in a contract providing for compulsory arbitration in case of dispute as to rights or liabilities under it; ineffectual if it purports to oust the courts of jurisdiction entirely. See Perry v. Cobb, 88 Me 435, 34 Atl. 278, 49 L. R. A. 3,89.
    —Arbitration of exchange. This takes place where a merchant pays his debts in one country by a bill of exchange upon another.