From the Rule of Law Education Centre, Sydney, Australia (See below for image)
What is the Rule of Law?
At its most basic level the rule of law is the concept that both the government and citizens know the law and obey it.
A good definition of the rule of law that has near universal acceptance states “…most of the content of the rule of law can be summed up in two points: (1) that the people (including, one should add, the government) should be ruled by the law and obey it and (2) that the law should be such that people will be able (and, one should add, willing) to be guided by it.”
– Geoffrey de Q. Walker, The rule of law: foundation of constitutional democracy, (1st Ed., 1988).