7341 - Common law arbitration. - Pennsylvania Statutes

SUBCHAPTER B COMMON LAW ARBITRATION Sec. 7341. Common law arbitration. 7342. Procedure. Cross References. Subchapter B is referred to in section 7302 of this title. § 7341. Common law arbitration. The award of an arbitrator in a nonjudicial arbitration which is not subject to Subchapter A (relating to statutory arbitration) or a similar statute regulating nonjudicial arbitration proceedings is binding and may not be vacated or modified unless it is clearly shown that a party was denied a hearing or that fraud, misconduct, corruption or other irregularity caused the rendition of an unjust, inequitable or unconscionable award. (Oct. 5, 1980, P.L.693, No.142, eff. 60 days) Cross References. Section 7341 is referred to in sections 7314, 7342 of this title.