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Simple English definitions for legal terms
arbitrium
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A quick definition of arbitrium:
Arbitrium: A fancy word that means a decision made by someone called an arbitrator. It's like when you ask a teacher to decide who is right in an argument between two students. The teacher's decision is the arbitrium.
A more thorough explanation:
ARBITRIUM
Arbitrium is a Latin term used in law to refer to the decision made by an arbitrator. It is an award given by an arbitrator after hearing both sides of a dispute.
For example, if two parties are in a dispute over a contract, they may agree to have an arbitrator hear their case and make a decision. The arbitrator's decision, or arbitrium, would be binding and final.
Another example could be in a labor dispute where a union and an employer cannot agree on a contract. They may agree to have an arbitrator make a decision on the terms of the contract. The arbitrator's decision, or arbitrium, would be final and legally binding.
Arbitrium is a legal term that refers to the decision made by an arbitrator. An arbitrator is a neutral third party who hears both sides of a dispute and makes a decision based on the evidence presented. The decision, or arbitrium, is binding and final, meaning that both parties must abide by it. This is often used as an alternative to going to court, as it can be faster and less expensive.