Rebus sic Stantibus or Pacta sunt Servanda

“Rebus sic stantibus” and “Pacta sunt servanda” are two Latin aphorisms that are very present in today’s legal world. The prior one is translated as “things thus standing.” Legally, it implies that the stipulations of the contracts can be modified in the event of substantial alterations to the conditions and circumstances under which they were first agreed upon. And the later one, being a Brocard, meaning “agreements must be kept.” This lexicon implies that the agreements, even when conditions have changed, must be fulfilled.