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party or counsel for each party” regarding the arbitral issues,
an agreement to be bound by the arbitrator’s findings, and other
matters related to the arbitration. Rule 124(b).
An arbitration agreement represents a contract between the
parties. See First Options of Chicago, Inc. v. Kaplan, 514 U.S.
938, 943 (1995); AT&T Techs., Inc. v. Communications Workers, 475
U.S. 643, 648 (1986); United Steelworkers of Am. v. Warrior &
Gulf Navigation Co., 363 U.S. 574, 582 (1960). Consequently, a
stipulated arbitration agreement, like other stipulations in this
Court, is governed by general principles of contract law, cf.
Bankamerica Corp. v. Commissioner, 109 T.C. 1, 12 (1997);
Dorchester Indus. Inc. v. Commissioner, 108 T.C. 320, 330 (1997),
affd. without published opinion 208 F.3d 205 (3d Cir. 2000);
Stamos v. Commissioner, 87 T.C. 1451, 1455 (1986); Robbins Tire &
Rubber Co. v. Commissioner, 52 T.C. 420, 435-436 (1969), and is
enforceable, like other contracts, according to its terms and the
parties’ intentions, see, e.g., First Options of Chicago, Inc. v.
Kaplan, supra at 947; Mastrobuono v. Shearson Lehman Hutton,
Inc., 514 U.S. 52, 63 (1995); Volt Info. Scis., Inc. v. Bd. of
Trs., 489 U.S. 468, 479 (1989). Absent good cause, we shall not
set aside the terms of an arbitration agreement. Cf. Dorchester
Indus. Inc. v. Commissioner, supra at 334; Saigh v. Commissioner,
26 T.C. 171, 176 (1956).
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