arbitration
UK /ˌɑː.bɪˈtɹeɪ.ʃən/ · US /ˌɑɹ.bɪˈtɹeɪ.ʃən/ noun
Forms arbitrations
- noun The act or process of arbitrating.
- noun A process through which two or more parties use an arbitrator or arbiter in order to resolve a dispute.
- noun In general, a form of justice where both parties designate a person whose ruling they will accept formally. More specifically in Market Anarchist (market anarchy) theory, arbitration designates the process by which two agencies pre-negotiate a set of common rules in anticipation of cases where a customer from each agency is involved in a dispute.
Synonyms
Etymology
From Middle English arbitracion, borrowed from Old French arbitration, from Latin arbitratio, from arbitrari (“to arbitrate, judge”); see arbitrate.
Webster’s 1913
- noun The hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties.
Etymology [F. arbitration, L. arbitratio, fr. arbitrari.]
Sources: Wiktionary · WordNet 3.0 · Webster’s 1913 — from the Wiktionary entry “arbitration”, CC BY-SA 4.0. Details