The term "rule of law" means that nobody is above the law and everybody is equal before the law. It means that the law is supreme and applies to everyone, regardless of their status or position in society.
The rule of law ensures that there is a fair and just legal system in place, where everyone is held accountable for their actions and there are consequences for breaking the law. It also means that the law is transparent and predictable, so people can understand and anticipate the legal consequences of their actions.
The rule of law is important because it promotes stability, order, and justice in society. It helps to prevent abuse of power, corruption, and arbitrary decision-making by those in positions of authority. It also protects the rights and freedoms of individuals, as the law provides a framework for resolving disputes and upholding individual rights.