An expert determination under a commercial contract is reviewable where the expert misconstrues the contractual formula he or she is required to apply, even where the determination is expressed to be 'final and binding'. The decision-making authority of an expert does not extend to determining the construction of the contractual formula so as to render the expert's decision on that issue unreviewable. A 'final and binding' clause makes little difference to reviewability — it operates only to the extent the determination is made in accordance with the contract.
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4 of the 37 citing cases carry a classified treatment. How each court treated it is available to signed-in members.