1 Module 5, Exercise 1 Krystalyn Yeakley, LEGS 660 In a situation such as this one, I would highly suggest med-arb to my client. Arbitration is not needed unless both parties fail at meditation. Because of the back and forth negotiating over the last six months, I believe that having my client sit down with the property owner to find a number in between their proposals would be best. The seller is clearly interested in reaching a deal and so is my client, but they have failed to handle this on their own. Mediation would be a perfect starting point to work through this dispute and attempt to find an adequate selling price for both parties. If the parties cannot find an agreeable selling price, then I would recommend that this move to arbitration. The information offered by Goldberg helped me to determine which form of arbitration would work best. I read the differences between the types of arbitration and decided on med-arb to be the best in this scenario because of the ongoing negotiating that they have been in. Final offer arbitration would have been my second choice as it would have been effective as well. Having both parties submit their final offer of what they are willing to give and take to be reviewed by a third party would have been an acceptable process. For the scenario of purchasing a home, I would suggest final offer arbitration. Conventional arbitration would be unnecessary as both parties do not need to spend time with an arbitrator attempting to make a point. Med-arb is also not needed as it does not mention the buyer and seller having prior history or an ongoing dispute such as that in the previous scenario. It would be easiest and quickest to choose final offer arbitration as both parties can submit the price that they’re willing to sell and buy.
