My prof that does the best version of Socratic (in my opinion) asks that no one raises a hand while someone "has the case." He gives people time to come up with an answer, and only when it's clear that there's not going to be one readily forthcoming, then he'll open it up to others. Once he does that, though, he'll go back to the orginal person, if the original person wants to continue with the case.
It's actually pretty good on the "thinking on your feet" vs. trying to humiliate the student or some other goal.
And, in this prof's view, it is preparation for court. He won't accept things phrased as a question. He'd much rather have someone speak confidently and wrong. Yes, it all gets corrected, but part of the training is the attitude in presentation.