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With tongue-in-cheek, American speculative fiction writer Neal Stephenson places the invention of BATNA in 17th century by putting the following words in his novel The Confusion: "“I learnt it from English traders in Surat,” said the befuddled Surendranath, “It stands for Best Alternative To a Negotiated Agreement.”" Another character ...
An understanding of the ZOPA is critical for a successful negotiation, [2] but the negotiants must first know their BATNA (best alternative to a negotiated agreement), or "walk away positions". [3] To determine whether there is a ZOPA both parties must explore each other's interests and values.
Prepare by understanding interests and alternatives. More specifically, estimate your BATNA and how other parties see theirs (BATNA stands for “best alternative to a negotiated agreement”). Having a good alternative to agreement increases your power at the table.
The power from positive leverage comes from the opportunity to provide or withhold the needed item or action. The strength of this type of leverage is determined by the other alternatives available to the opposition (often referred to as the "BATNA" or the best alternative to a negotiated agreement). If there are others who can also fulfill the ...
The best alternative to a negotiated agreement, or BATNA, is the most advantageous alternative course of action a negotiator can take should the current negotiation end without reaching an agreement. The quality of a BATNA has the potential to improve a party's negotiation outcome.
In contract law, a forum selection clause (sometimes called a dispute resolution clause, choice of court clause, governing law clause, jurisdiction clause or an arbitration clause, depending on its form) in a contract with a conflict of laws element allows the parties to agree that any disputes relating to that contract will be resolved in a specific forum.
Mistake of law is when a party enters into a contract without the knowledge of the law in the country. The contract is affected by such mistakes, but it is not void. The reason here is that ignorance of law is not an excuse. However, if a party is induced to enter into a contract by the mistake of law then such a contract is not valid. [3]
Definition and use A.C., [1] administrative case [2] N/A: English A case brought under administrative law in the form of a quasi-judicial proceeding by an agency of a non-judicial branch of government, or, the Office of the Court Administrator. Normally, such cases are internal disciplinary matters—court cases criminal and civil can be ...