quotient award

quotient award
An award of arbitrators arrived at by dividing the aggregate of the several amounts of individual estimates of the arbitrators by the number of arbitrators and accepting the quotient as the amount of the award to be made, regardless of individual judgment as to the propriety of the amount. 5 Am J2d Arb & A § 135. A quotient award is not more lawful for arbitrators than is a quotient verdict for jurors. Schreiber v Pacific Coast Fire Ins. Co. 195 Md 639, 75 A2d 108, 20 ALR2d 951.

Ballentine's law dictionary. . 1998.

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