BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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precedent
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stability
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justice
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ethics
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Detailed explanation-1: -Overruling is where the court later decides that the decision in a previous case is wrong. The House of Lords exercising the power of the Practice Statement, to overrule its own decisions, can demonstrate this.
Detailed explanation-2: -In an absolutely authoritative precedent, the judges have to compulsorily follow the judicial decision of the precedent in a case of law. In other words, even if the judge finds the precedent to be a wrong judgment, he is legally bound to give the same judicial decision.
Detailed explanation-3: -(1) A decision ceases to be binding if a statute or statutory rule inconsistent with it is subsequently enacted, or if it is reserved or overruled by a higher Court. (2) A precedent is not binding if it was rendered in ignorance of a statute or a rule having the force of statute.
Detailed explanation-4: -A decision of a High Court would have binding force in the state in which the court has jurisdiction but not outside that state. Decisions of the High Court are binding on subordinate courts, authorities and tribunals situated within its jurisdictional territory.