The Court has also to deal with the contention of Honduras that Nicaragua is precluded not only by Article IV of the Pact of Bogotá but also “by elementary considerations of good faith” from commencing any other procedure for pacific settlement until such time as the Contadora process has been concluded. The principle of good faith is, as the Court has observed, “one of the basic principles governing the creation and performance of legal obligations” (Nuclear Tests, I.C.J. Reports 1974, p. 268, para. 46; p. 473, para. 49); it is not in itself a source of obligation where none would otherwise exist.
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