/ˈbaɪndɪŋ ɔːˈθɒrəti/ – Phrase
Definition: quyền lực ràng buộc
A more thorough explanation: 1. a past decision in a legal case that must be followed by lower courts in future similar cases
2. the power given to an insurance broker (=a person who sells insurance policies) allowing them to provide insurance cover to a person without first sending details of the risk involved to the insurance company for approval
Example: 1. Is everything the Court says en route to deciding a case binding authority?
2. The agreement must set forth the terms, conditions and limitations governing the broker’s exercise of binding authority.