Question

    According to the Arbitration and Conciliation Act which

    of the following is incorrect with respect to an Arbitration Agreement?
    A An arbitration agreement shall be in writing Correct Answer Incorrect Answer
    B An arbitration agreement can be oral or in writing Correct Answer Incorrect Answer
    C An arbitration agreement must be in a document signed by the parties Correct Answer Incorrect Answer
    D An arbitration agreement may be in the form of a separate agreement Correct Answer Incorrect Answer
    E An arbitration agreement may be in the form of an arbitration clause in a contract Correct Answer Incorrect Answer

    Solution

    Explanation: Section 7 - Arbitration agreement.—(1) In this Part, “arbitration agreement” means an agreement by the parties to submit to arbitration all or certain disputes which have arisen or which may arise between them in respect of a defined legal relationship, whether contractual or not. (2) An arbitration agreement may be in the form of an arbitration clause in a contract or in the form of a separate agreement. (3) An arbitration agreement shall be in writing. (4) An arbitration agreement is in writing if it is contained in— (a) a document signed by the parties; (b) an exchange of letters, telex, telegrams or other means of telecommunication including communication through electronic means which provide a record of the agreement; or (c) an exchange of statements of claim and defence in which the existence of the agreement is alleged by one party and not denied by the other.

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