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MikeT/NC

American Arbitration Association

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I was looking over the wording of a major guru's paper work and there's a clause in the option basically saying the parties will settle any dispute by arbitration. Using the rules of the American Arbitration Association. Is this something you would leave in a CA option agreement? Or does the "Remedies upon Default" section of the naked docs suffice? I was told by an attorney to leave it out. But on the other hand the guru in question has done 3000+ deals so it seems he would know a little something to.

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Don't know the "major guru" in question, but I see no need for including an arbitration clause. I would listen to your attorney.

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