Legal Dictionary
ex aequo et bono
Legal Definition of ex aequo et bono
Etymology
Phrase
- "In justice and fairness." Something to be decided ex aequo et bono is something that is to be decided by principles of what is fair and just. Most legal cases are decided on the strict rule of law. For example, a contract will be normally upheld and enforced by the legal system no matter how "unfair" it may prove to be. But a case to be decided ex aequo et bono, overrides the strict rule of law and requires instead a decision based on what is fair and just given the circumstances.
Etymology
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Definition of ex aequo et bono
Phrase
ex aequo et bono
- (law) according to what is right and good - rather than according to the law
Further reading
Ex aequo et bono (Latin for "according to the right and good" or "from equity and conscience") is a legal term of art. In the context of arbitration, it refers to the power of the arbitrators to dispense with consideration of the law and consider solely what they consider to be fair and equitable in the case at hand.
Article 38(2) of the Statute of the International Court of Justice provides that the court may decide cases ex aequo et bono, but only where the parties agree thereto. Through 2007, ICJ has never decided such a case.
Article 33 of the United Nations Commission on International Trade Law's Arbitration Rules (1976) provides that the arbitrators shall consider only the applicable law, unless the arbitral agreement allows the arbitrators to consider ex aequo et bono, or amiable compositeur, instead.[1] This rule is also expressed in many national and subnational arbitration laws, for example s. 22 of the Commercial Arbitration Act 1984 (NSW).
On the other hand, the constituent treaty of the Eritrea-Ethiopia Claims Commission explicitly forbids this body to interpret ex aequo et bono.
Notes
- 33 - UNCITRAL Arbitration Rules (1976)
See also
References:
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.
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