What does mediation involve?

Prepare for the UCF FIN2100 Midterm 2 Exam. Study flashcards and multiple choice questions with hints and explanations for better understanding. Equip yourself for success!

Mediation involves an impartial third party facilitating a resolution between parties in conflict. This process is designed to help both sides communicate their perspectives and work towards a mutually agreeable solution. The mediator does not impose a decision like a judge would; instead, they guide the discussion and encourage collaboration, allowing the parties to arrive at a solution themselves. This method is often favored for its focus on preserving relationships and promoting understanding, making it particularly useful in disputes where ongoing interaction may be necessary, such as in family or business contexts.

In contrast, mediation is distinct from options involving personal opinions or legal judgments, which do not capture the collaborative essence of mediation. While lawyers may be involved in the mediation process, having a lawyer is not a requisite, as mediation can occur without formal legal representation.

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