Section 2 of the Federal Arbitration Act

Section 2 of the Federal Arbitration Act (FAA) establishes the enforceability of arbitration agreements in contracts involving interstate commerce. It states that these agreements shall be valid, enforceable, and irrevocable, similar to other contracts. This section aims to promote arbitration as a means to resolve disputes outside of court, ensuring that parties can rely on their agreements to resolve conflicts through arbitration rather than litigation, which can be more time-consuming and costly. In essence, it emphasizes the legal support for using arbitration as a preferred method for dispute resolution in business and personal agreements.