In Java, binding refers to the linking of a function with the object that calls it. Static binding occurs when this linking is done at compile time, while dynamic binding happens at runtime. Static binding is also often referred to as early binding. There are several benefits to static binding. For one, it makes code easier to read and understand because you can see exactly which functions are being called for each object. It can also make code more efficient since the compiler can optimize the code more easily. Finally, it can help to catch errors early on, since the compiler will flag any type mismatches. Dynamic binding is more flexible than static binding since it allows for different objects to call different functions at runtime. This can be useful in situations where you don't know ahead of time which object will be calling the function. However, dynamic binding can also lead to more errors since type mismatches may not be caught until runtime. In general, static binding should be used whenever possible for maximum clarity and efficiency.