Posted by JA-FL on December 18, 1999 at 05:41:53:
Would this be court ordered mediation or binding arbitration on both parties by an Arbitration Association and would that be legal?
Liquidated damages, Mediation and Arbitration clauses - Posted by Bud Branstetter
Posted by Bud Branstetter on December 17, 1999 at 22:13:09:
In the most recent AIREO “study group” with a local attorney we discussed the use of these clauses in purchase/sale and lease option contracts. The direction of the conversation was that a court would order mediation and either was more economical than litigation. The Texas TREC has a mediation agreement for real estate contracts. Is anyone putting these clauses in their leases or option contracts besides the SPASA?