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    Question

    Arbitration agreement means:

    A Intention of parties to carry out settlement. Correct Answer Incorrect Answer
    B Agreement by parties to submit to arbitration Correct Answer Incorrect Answer
    C Reference of disputes by court alongwith parties to arbitration Correct Answer Incorrect Answer
    D A and B. Correct Answer Incorrect Answer
    E All of the above. Correct Answer Incorrect Answer

    Solution

    S.7 Arbitration agreement.โ€”(1) In this Part, โ€œarbitration agreementโ€ means an agreement by theย  parties to submit to arbitration all or certain disputes which have arisen or which may arise between themย  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 ofย  a separate agreement. (3) An arbitration agreement shall be in writing. (4) An arbitration agreement is in writing if it is contained inโ€” (a) a document signed by the parties; (b) an exchange of letters, telex, telegrams or other means of telecommunication [includingย  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. (5) The reference in a contract to a document containing an arbitration clause constitutes anย  arbitration agreement if the contract is in writing and the reference is such as to make that arbitrationย  clause part of the contract.

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