Law · Arbitration and Conciliation Act, 1996
Under the Arbitration & Conciliation Act, 1996, what is the statutory status of an oral arbitration agreement?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is fully recognized if supported by two independent witnesses
- 2It is recognized depending upon the monetary value of the case
- 3It is not recognized as a valid arbitration agreement as Section 7 requires it to be in writing✓
- 4It is recognized at the absolute discretion of the arbitrators
Correct answer
It is not recognized as a valid arbitration agreement as Section 7 requires it to be in writing
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