Advantages And Disadvantages Of Negotiation Resolution

Litigation in general, is the accepted method of resolving commercial disputes, however, there are alternative resolution methods available such as conceding, negotiation, mediation, conciliation and arbitration.

With regards to the dispute between Mrs Lee and Mr Tan, the ideal method would be for Mr Tan to concede his position. Since it is a less complex case with no expenditure or monetary transactions involved, this would be preferred, as it is quick and the easiest way to resolve the dispute. Unless Mr Tan refuses to concede his position, negotiation would be recommended which involves both parties to negotiate and lose grounds. Likewise, the negotiation resolution method is still an informal, cheaper method and also less time-consuming. Negotiation also helps to maintain good business relationships, which may prove to be useful in the future. However, if negotiation fails to resolve, mediation could be considered when there is a need for a third party to be involved.

In mediation, a neutral third party is appointed to mediate the dispute to reach a mutually acceptable outcome. Mediation is non-binding but settlement agreement can be made to seize the agreed mediation outcome. It is informal and private too. As the case of Mrs Lee and Mr Tan is less complex, there is

First, a contract which is binding on minors that include contracts for necessaries and also contracts for beneficial services. Necessaries refer to the goods and services which the law deems to be required by a minor in his or her’s station in life. Second, a contract which is binding on minors unless he chooses to repudiate the contract; this typically happens when a minor face recurring future obligations he may wish to opt out of. Thirdly, contracts which are not binding on minors unless they are ratified. Such contracts cannot be enforced against the minor until he ratifies it having reached the age of