Contracts
The Colorado Real Estate Commission's 'Obligation to Mediate' provision in the Contract to Buy and Sell requires parties to:
ASubmit all disputes to binding arbitration
BAttempt mediation before filing a lawsuit in most disputes✓ Correct
CResolve all disputes through the Commission's own arbitration panel
DUse the same mediator in all Colorado real estate disputes
Explanation
The Colorado Contract to Buy and Sell includes a provision requiring parties to attempt mediation before resorting to litigation in most disputes arising from the contract. Mediation is a non-binding process where a neutral mediator helps the parties reach a voluntary resolution.
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