Legal Aspects of Management
Precedent refers to a legal principle or rule established in a previous court case that serves as an authority for judges deciding similar cases in the future. It is a key aspect of common law systems, where the decisions made in higher courts bind lower courts to ensure consistency and predictability in the law. This reliance on past rulings helps to shape legal interpretations and contributes to the stability of the judicial system.
congrats on reading the definition of precedent. now let's actually learn it.