What is the principle of "stare decisis"?

The principle of "stare decisis" refers specifically to the practice of following legal precedents established by previous court decisions. This principle is fundamental in ensuring consistency and predictability in the law, as it mandates that courts should honor the precedents set by higher courts in the same jurisdiction. By adhering to past rulings, the judicial system provides a stable legal framework where similar cases can be decided in a consistent manner, fostering trust in the legal system.

The importance of this principle lies in its role in limiting the arbitrary nature of judicial decision-making. By respecting established interpretations of the law, it promotes fairness and equality before the law, ensuring that similar cases are treated similarly. This practice also aids in developing legal doctrines and contributes to the overall evolution of the law over time.