Arbitrators vested with the power to decide according to equity may apply a rule of law where they consider that the solution provided by it coincides with the equitable solution, without the need for specific reasoning on the point; in such a case, there is no defect of excess of powers within the meaning of art. 829 co. 1 n. 4 cod. proc. civ.
Excess of powers by arbitrators within the meaning of art. 829 co. 1 n. 4 cod. proc. civ. is only established where the arbitrators, vested with the power to decide according to equity, erroneously considered themselves bound to decide the dispute according to law, and not in the converse case where they applied a rule of law considering it to coincide with the equitable solution.
Nullity of the arbitral award for lack of reasoning within the meaning of art. 829 co. 1 n. 11 cod. proc. civ. arises only where the reasoning is entirely absent or so deficient as to render it impossible to reconstruct the logical and juridical process underlying the decision; a concise or implicit statement of reasons is not sufficient for that purpose, provided that it is possible to reconstruct from it the grounds of the decision.