State Codes and Statutes
Statutes > Virginia > Title-8-01 > Chapter-21 > 8-01-577§ 8.01-577. Submission of controversy; agreement to arbitrate; conditionprecedent to action.
A. Persons desiring to end any controversy, whether there is a suit pendingtherefor or not, may submit the same to arbitration, and agree that suchsubmission may be entered of record in any court. Upon proof of suchagreement out of court, or by consent of the parties given in court in personor by counsel, it shall be entered in the proceedings of such court.Thereupon a rule shall be made, that the parties shall submit to the awardwhich shall be made in accordance with such agreement and the provisions ofthis chapter.
B. Neither party shall have the right to revoke an agreement to arbitrateexcept on a ground which would be good for revoking or annulling otheragreements. Submission of any claim or controversy to arbitration pursuant tosuch agreement shall be a condition precedent to institution of suit oraction thereon, and the agreement to arbitrate shall be enforceable, unlessthe agreement also provides that submission to arbitration shall not be acondition precedent to suit or action.
(Code 1950, § 8-503; 1968, c. 244; 1977, c. 617; 1983, c. 485; 1986, c. 614.)
