Which of the following is incorrect with respect to arbitration agreement as per the Arbitration and Conciliation Act, 1996?
Explanation & Strategy
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Section 7 mandates that arbitration agreements must be in writing — oral agreements are not valid. The writing requirement can be satisfied by signed documents, electronic communications, or exchange of claim/defence statements. Option A is incorrect because it includes 'oral' which is explicitly excluded.
The text reads: Section 7(3): An arbitration agreement shall be in writing.