/ˈkɒmən lɔː ˌɑːbɪˈtreɪʃən/ – Phrase
Definition: trọng tài phân xử căn cứ theo thông luật.
A more thorough explanation: Common law arbitration refers to a method of resolving disputes outside of the court system, where parties agree to submit their dispute to an arbitrator who will make a binding decision based on the evidence and arguments presented. This process is governed by the principles of common law, which are legal precedents and principles developed by courts through decisions in previous cases.
Example: In common law arbitration, the parties agree to resolve their dispute outside of court through a neutral third party.