Basically a ruling or judgement on a matter that has been made by another court (and not overturned by a higher court). This means the law as it applies over time is not arbitrary but applies the same rulings in similar cases consistently.
Precedent is a component of common law
Classic land titles case in Australia that set the precedent for the law of equity by the House of Lords.
Classic land titles case in Australia that set the precedent for the law of equity by the House of Lords.
Essentially binding precedent means that if a higher court has ruled on what is substantially the same legal issue, then that ruling is binding on the lower courts. This is designed to build up a consistent body of law, so for example, we dont have 30 different interpretations of 1 section of statute.
Precedent
"Precedent"?
The Common Law
The Common Law
Where the law does not set a precedent to be followed by Courts lower in the Court hierarchy, it must turn to the Statute (or legislation) that is prescribed in that area
Obiter Dicta
Common law refers to law developed by judges through decisions of courts that are called precedent. Roman law, or civil law, differs from common law in that it is based solely on a legal code instead of precedent.
common law is based on precedent rather on statute law