Arbitration Agreement

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Multiple Choice

What is the legal definition of an arbitration agreement under the Arbitration and Conciliation Act, 1996?

  1. A written agreement between two or more parties to submit to arbitration all or certain disputes which have arisen or which may arise between them.
  2. A verbal agreement between two or more parties to submit to arbitration all or certain disputes which have arisen or which may arise between them.
  3. A written agreement between two or more parties to submit to arbitration all or certain disputes which have arisen or which may arise between them, but only if the dispute is related to a commercial transaction.
  4. A verbal agreement between two or more parties to submit to arbitration all or certain disputes which have arisen or which may arise between them, but only if the dispute is related to a commercial transaction.
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