ARBITRATE
Ar"bi*trate, v. i.
1. To decide; to determine. Shak.
2. To act as arbitrator or judge; as, to arbitrate upon several reports;; to arbitrate in disputes among heighbors; to arbitrate between parties to a suit.
ARBITRATION Ar`bi*tra"tion, n. Etym: [F. arbitration, L. arbitratio, fr. arbitrari.]
Defn: The hearing and determination of a cause between parties in controversy, by a person or persons chosen by the parties.
Note: This may be done by one person; but it is usual to choose two or three called arbitrators; or for each party to choose one, and these to name a third, who is called the umpire. Their determination is called the award. Bouvier Arbitration bond, a bond which obliges one to abide by the award of an arbitration. — Arbitration of Exchange, the operation of converting the currency of one country into that of another, or determining the rate of exchange between such countries or currencies. An arbitrated rate is one determined by such arbitration through the medium of one or more intervening currencies.
ARBITRATOR
Ar"bi*tra`tor, n. Etym: [L., fr. arbitrari: cf. F. arbitrateur.]
1. A person, or one of two or more persons, chosen by parties who have a controversy, to determine their differences. See Arbitration.
2. One who has the power of deciding or prescribing without control; a ruler; a governor. Though Heaven be shut, And Heaven's high Arbitrators sit secure. Milton. Masters of their own terms and arbitrators of a peace. Addison.
Syn.
— Judge; umpire; referee; arbiter. See Judge.