An adjustable armrest includes a base member pivotable about a first horizontal axis in a side-to-side direction. An arm support member is connected to the base member. A first latch member includes a plurality of notches, while a second latch member includes a pawl shaped to releasably engage at least one of the plurality of notches. One of the first or second latch members is mounted on the base member, with the second latch member being moveable relative to the first latch member between at least one engaged position and a release position. In another aspect, a chair includes a pair of adjustable armrests. In another aspect, a method of adjusting the lateral position of an armrest is provided.