BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Precedent means judgment or decision of a court of law cited as an authority for the legal principle embodied in it. The doctrine of precedent which is also known as stare decisis, i.e. stand by the decision, is based on the principle that like cases should be decided alike.

Detailed explanation-2: -The policy of the court to stand by precedent is termed as Stare decisis. In a literal sense, it means “to stand by decided matters”. The phrase “stare decisis” is itself short of the Latin phrase “stare decisis et non quieta movere”. This phrase means “to stand by decisions and not to disturb settled matters”.

Detailed explanation-3: -2014) (defining stare decisis as the doctrine of precedent, under which a court must follow earlier judicial decisions when the same points arise again in litigation ); id. at 1366 (defining precedent as a decided case that furnishes a basis for determining later cases involving similar facts or issues ).

Detailed explanation-4: -The doctrine of Stare Decisis means that courts refer to the previous, similar legal issues to guide their decisions. Such previous decisions that courts refer to are known as “precedents”. Precedents are legal principles or rules that are created by the decisions given by courts.

Detailed explanation-5: -Latin for “something said in passing.” A comment, suggestion, or observation made by a judge in an opinion that is not necessary to resolve the case, and as such, it is not legally binding on other courts but may still be cited as persuasive authority in future litigation.