The effectiveness of res judicata arising from an arbitral award presupposes the identity of the constitutive elements of the action between the arbitration proceedings and those subsequently instituted, with particular reference to the parties, the petitum and the causa petendi. It follows that the determination contained in the award on a legal question does not bind the court in subsequent proceedings having a different subject matter, such determination being capable of consideration solely for the purposes of possible endorsement of the reasoning set out therein, where such reasoning proves relevant to the new case and possesses sufficient persuasive force.