law? (15 Marks) b) Examine the following concepts as used in the settlement of disputes in international law i. The international court of justice (4 Marks) ii. International arbitration (4 Marks) iii. Compulsory binding settlement (4 Marks) iv. Jurisdiction and admissibility (3 Marks)

i. The International Court of Justice (ICJ) is a principal judicial organ of the United Nations (UN) and the only international court that settles disputes between states. It was established in 1945 by the United Nations Charter and is located in The Hague, Netherlands. The ICJ settles legal disputes submitted to it by states in accordance with international law. It has the power to interpret and apply the provisions of the UN Charter, including the power to interpret the Charter itself. The ICJ is composed of 15 judges elected for a term of nine years, and its decisions are binding and final.<br /><br />ii. International arbitration is a private and voluntary process where parties to a dispute agree to submit their dispute to one or more arbitrators for a binding decision. It is a widely used method for resolving disputes in international trade and investment. The arbitrator's decision, known as an "award," is final and enforceable in most countries. International arbitration offers flexibility, confidentiality, and expertise, as parties can choose an arbitrator with specific knowledge of the subject matter.<br /><br />iii. Compulsory binding settlement refers to a situation where parties to a dispute are legally obligated to settle their dispute through a particular process, such as arbitration or mediation. This means that they cannot unilaterally reject the outcome of the process or refuse to comply with its decisions. Compulsory binding settlement is often used in international trade agreements or treaties where parties have agreed to submit to arbitration or mediation in case of disputes.<br /><br />iv. Jurisdiction and admissibility are two important concepts in the settlement of disputes in international law. Jurisdiction refers to the power of a court or tribunal to hear and decide a case. In international law, jurisdiction is often determined by the principles of territoriality, nationality, and universality. Admissibility, on the other hand, refers to whether a case can be heard by a particular court or tribunal. A case may be inadmissible if it is based on irrelevant facts, if the parties lack standing, or if the case has already been decided in another forum.