1 Equity is a polymorphous concept even in the narrow confines of legal language. In its most general meaning it refers to what is fair and reasonable in the administration of justice, a concept that in Roman Law is aptly expressed by the term aequitas. In a narrower and more technical meaning, equity refers to the power conferred on the International Court of Justice (ICJ) under Art. 38 (2) Statute of the International Court of Justice, or on other international courts and tribunals, to decide a case ex aequo et bono, ie without being required to apply rules of...
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