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Sovereignty is the right to govern a people or a nation through the authority decreed to that person via the prevalent traditions. In classical imperial sense a monarch or a king used to be the sovereign of the country and was considered above law, in fact his word was the law and was a type of tyranny. In modern sense though democratic ideals are held supreme and any particular nation has the prerogative to run their own affairs. A democratic authority is that of the people which is managed and maintained by them and they are the sovereigns of their own affairs.
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