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The Cyclopedic Law Dictionary · Walter A. Shumaker and George Foster Longsdorf; ed. James C. Cahill · 1922

The Cyclopedic Law Dictionary

An agreement made between two or more parties as a settlement of matters in dispute between them. In Civil Law. An agreement between two or more persons, who, wishing to settle their disputes, refer the matter in controversy to arbitrators, who are so called because those who choose them give them full powers to arbitrate and decide what shall appear just and reasonable, to put an end to the differences of which they are made the judges.

1 Domat, Civ. Law, liv. 1, tit. 14.