The Latin phrase "ex aequo et bono" is a term used in legal contexts, particularly in international arbitration. It translates directly to "according to the equitable and good." It suggests that decisions should be made based on fairness, equity, and what is perceived as just and good, rather than strictly adhering to existing law.
The correct interpretation of 'ex aequo et bono' as a legal term is "According to the equitable and good."
This is one of the provided options and is widely accepted in legal literature.
In many legal systems, especially in alternative dispute resolutions such as arbitration, parties may agree to resolve their disputes ex aequo et bono. Here, the arbitrator has the discretion to decide cases based on principles of fairness and equity rather than being bound by precedence or statutory interpretation. This approach can be particularly beneficial in transnational disputes where different legal systems may conflict.
I. Uti Possidetis | 1. Principle in customary international law providing that where there has been a fundamental change of circumstances since an agreement was concluded, a party to that agreement may withdraw from or terminate it. |
II. Pacta Sunt Servanda | 2. Two or more states equally exercise sovereignty with respect to a territory and its inhabitants. |
III. Condominium | 3. Doctrine that territory remains with the possessor state at the end of war or occupation unless otherwise determined by a treaty or an agreement. |
IV. Rebus Sic Stantibus | 4. Proposition that treaties are binding upon the parties to them and must be performed in good faith. |