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The doctrine of precedent refers to the practice whereby a court is bound to follow the decisions of higher courts in similar cases in the past. This means that the decisions of higher courts establish a binding precedent for lower courts to follow in future cases. In doing so, the doctrine ensures consistency and predictability in the law, and it allows the legal system to build on its past decisions and develop in a coherent and systematic way. The principle of stare decisis (meaning “to stand by things decided”) is a central component of the doctrine of precedent, and it is of fundamental importance to the common law legal system.
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