BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
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Administrative
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Customary
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Regulatory
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Precedent
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Detailed explanation-1: -Kinds of precedents are an authoritative precedent, persuasive precedent, original precedent, declaratory precedent and what are their uses and when they are applied.
Detailed explanation-2: -2014) (defining precedent as a decided case that furnishes a basis for determining later cases involving similar facts or issues ). The Court may also rely on commentary on these cases by academics and judges.
Detailed explanation-3: -precedent, in law, a judgment or decision of a court that is cited in a subsequent dispute as an example or analogy to justify deciding a similar case or point of law in the same manner.
Detailed explanation-4: -Judicial precedent or decisions is a process which is followed by the judges to take the decision. In Judicial precedent, the decision is taken by following the similar cases happened in the past. So judicial decision is based on the principle of stare decisis i.e. “stand by the decision already made”.