The Federal Arbitration Act ensures that arbitration agreements are enforceable. Except when they’re not.
Writing in 1974, Supreme Court Justice Potter Stewart described the intent and purpose of the Federal Arbitration Act (the FAA) as follows:
Reversing centuries of judicial hostility to arbitration agreements, [the Act] was designed to allow parties to avoid “the costliness and delays of litigation,” and to place arbitration agreements “upon the same footing as other contracts… .” Accordingly, the Act provides that an arbitration agreement … . “shall be valid, irrevocable, and enforceable, save upon such grounds as exist at law or in equity for the revocation of any contract.”
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