Law: Amicable Arbitration

Under the auspices of the Chicago Chamber of Commerce an effort is being made in Illinois to introduce commercial arbitration in certain trades in place of court proceedings in commercial disputes. The Chicago plan differs from that in vogue in New York, in that arbitration is not compulsory but may be declined on payment of ” liquidation damages.” Efforts to have the state legislature furnish a definite legal basis for the plan have not yet been successful.