The Standard of Honor is one of the eight talismans of Sir Cabirus, representing the virtue of Honor. It was once carries by Lady Geraci, who was killed by the Shadowlords, when they abducted Lord British, showing honor to the end. It is a strong symbol of virtue.
The Standard of Honor was kept by the Knights of the Crux Ansata. The Avatar received it from Dorna Ironfist, their leader, in Ultima Underworld I, after destroying their worst enemy, the black knight Rodrick. It was cast into the lava of the Abyss later, to banish to Slasher of Veils.