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Simple English definitions for legal terms
pacta sunt servanda
Read a random definition: standby underwriting agreement
A quick definition of pacta sunt servanda:
Term: PACTA SUNT SERVANDA
Definition: Pacta sunt servanda means that agreements must be kept. It is a principle of international law that states that parties to a contract must abide by the terms of the agreement they have made. This means that if two or more parties have agreed to something, they must follow through with their promises. It is like making a promise to a friend and keeping that promise. It is important to keep agreements to maintain trust and respect between parties.
A more thorough explanation:
Definition: Pacta sunt servanda is a Latin phrase that means "agreements must be kept". It is a fundamental principle of international law that requires parties to honor their agreements and obligations.
Example: A common example of pacta sunt servanda is a contract between two parties. When two parties sign a contract, they are agreeing to certain terms and conditions. Pacta sunt servanda requires both parties to fulfill their obligations under the contract. If one party fails to do so, the other party can take legal action to enforce the contract.
Another example: Another example of pacta sunt servanda is a treaty between two countries. When two countries sign a treaty, they are agreeing to certain obligations and responsibilities. Pacta sunt servanda requires both countries to fulfill their obligations under the treaty. If one country fails to do so, the other country can take diplomatic or legal action to enforce the treaty.
Explanation: Pacta sunt servanda is a principle that emphasizes the importance of keeping agreements and fulfilling obligations. It is a fundamental principle of international law that helps to ensure stability and predictability in international relations. The examples illustrate how pacta sunt servanda applies to different types of agreements, such as contracts and treaties, and how it helps to ensure that parties fulfill their obligations under these agreements.