point — Wouters, Manual of Moral Theology
Point VI. On Settlement and Arbitration
957.
To aleatory contracts can in some way be reduced settlement and arbitration.
I. Settlement is a contract by which parties end a lawsuit that has arisen, or forestall one that is imminent, by cession, promise, or retention of some thing. Its form is determined by civil law.
958.
II. Arbitration is a contract by which parties agree that a lawsuit that has arisen or is imminent be ended through arbitrators. Its form is to be considered in civil law.