A more thorough explanation:

Definition: Laudum (law-dum) is a legal term that refers to an arbitrament, which is the power to decide for oneself or others, and the act of deciding or settling a dispute that has been referred to arbitration. It is also known as an award.

Examples:

• When two parties cannot come to an agreement, they may choose to submit their dispute to laudum, where an arbitrator will make a final decision.
• In a laudum, the arbitrator's decision is binding and cannot be appealed.

These examples illustrate how laudum is used in legal contexts to refer to the process of arbitration and the final decision made by an arbitrator.