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Examveda

Principle of "accord and satisfaction":

A. Applies to an arbitration agreement

B. Does not apply to a valid agreement

C. Applies when the parties are not related

D. Applies to an "agreement" signed by a minor

Answer: Option A


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An Arbitration Agreement dated 1st December, 2018 provides for reference of disputes to four arbitrators with two to be appointed by each of the parties. The Arbitration Agreement:

A. Is void and non-actionable

B. Is to be construed as being of reference of disputes to a sole arbitrator

C. Is to be construed as being of reference of disputes to three arbitrators

D. Is to be construed as being of reference of disputes to five arbitrators with the fifth arbitrator being nominated by the two arbitrators of each party