Mediation and arbitration and how these two terms are used, English

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Mediation and arbitration and how these two terms are used

Can someone explain

1) Mediation AND Arbitration and how these two terms are used to RESOLVE CONFLICTS OR DISPUTES IN MODERN SOCIETY?

2) what are the advantages and disadvantages of each Mediation and Arbitration?

3) How does each compare to legal/formal adjudication through the court system. Please use the problems assocated with Divorce (the division of assests, suppot, custody, etc.) to illustrate your answer.

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