/lɛks voʊˌlʊnˈteɪtɪs/ – Latin Phrase
Definition: luật được các bên giao dịch lựa chọn.
A more thorough explanation: “Lex voluntatis” is a Latin term that translates to “law of the will.” In legal terms, it refers to a principle that governs contracts and agreements, indicating that the intentions of the parties involved should be upheld and respected. This principle emphasizes that agreements should be interpreted based on the mutual understanding and intentions of the parties, rather than strict adherence to the literal wording of the contract.
Example: The principle of lex voluntatis dictates that the parties’ intentions as expressed in their contract will govern their legal relationship.