What is the significance of judicial precedent?

Judicial precedent, also known as case law or stare decisis, holds significant importance as it guides future court decisions. This principle ensures that similar cases are decided in a consistent manner, allowing for predictability and stability in the law. When courts make decisions in specific cases, those rulings become precedents that must be followed by lower courts in subsequent cases that have similar facts or legal issues. This creates a framework within which the judiciary operates, fostering legal coherence and the gradual evolution of legal principles over time.

The guiding role of judicial precedent is fundamental because it respects the importance of past interpretations while allowing for a degree of flexibility. Judges can refer to precedents to support their rulings, thereby building upon established legal principles and ensuring that the law adapts to new circumstances while being anchored in prior decisions. This method promotes fairness in the judicial process and helps maintain public confidence in the legal system.