Contracts
In Oklahoma, a purchase contract provision that requires disputes to be settled through binding arbitration:
AIs always unenforceable against consumers
BMay be enforceable if the parties voluntarily agreed to it; arbitration clauses in real estate contracts are generally valid under the Federal Arbitration Act✓ Correct
CRequires OREC approval
DOnly applies to commercial transactions
Explanation
Binding arbitration clauses are generally enforceable in Oklahoma real estate contracts under the Federal Arbitration Act. Arbitration is typically faster and less expensive than litigation. However, the clause must be clearly disclosed, and some consumer protections may limit its application.
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