Apex Realty v. Schick Realty: Court Upholds Arbitration Award Without Stated Findings of Fact and Conclusions of Law Because Such Findings/Conclusions Were Not Required by the Arbitration Agreement
The case Apex Realty, Inc. v. Schick Realty, Inc., heard Board and arbitrators appeal from interlocutory order of the New Jersey Superior Court (Law Division) requiring them to formulate written findings of fact and conclusions of law regarding their resolution of an issue of contract construction in favor of Apex Realty. The appellate division reversed the decision of the law division and reinstated the Board's order. The appellate division held that the lack of a statement of reasons in an arbitration award was not, in itself, ground for vacation of the award absent a provision in the parties' arbitration agreement requiring arbitrators to state their reasons for the award.
Apex Realty, Inc. v. Schick Realty, Inc., 242 N.J. Super. 494, 577 A.2d 534 (App. Div. 1990).