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Precedent is a judicial decision that serves as an authority for courts when deciding subsequent identical or similar cases. [1] [2] [3] Fundamental to common law legal systems, precedent operates under the principle of stare decisis ("to stand by things decided"), where past judicial decisions serve as case law to guide future rulings, thus promoting consistency and predictability.
In their Construction Law column, Kenneth Block and Joshua Levy explore the differences between typical contract terms and those that rise to the level of conditions precedent, the latter ...
According to Black's Law Dictionary, common law is "the body of law derived from judicial decisions, rather than from statutes or constitutions." [15] Legal systems that rely on common law as precedent are known as "common law jurisdictions."
A condition precedent is an event or state of affairs that is required before something else will occur. In contract law, a condition precedent is an event which must occur, unless its non-occurrence is excused, before performance under a contract becomes due, i.e., before any contractual duty exists. [1]
If the court believes that developments or trends in legal reasoning render the precedent unhelpful, and wishes to evade it and help the law evolve, it may either hold that the precedent is inconsistent with subsequent authority, or that it should be distinguished by some material difference between the facts of the cases; some jurisdictions ...
The primary contrast between the two systems is the role of written decisions and precedent as a source of law (one of the defining features of common law legal systems). [25] While common law systems place great weight on precedent, [26] civil law judges tend to give less weight to judicial precedent. [27]
Whether or not Chief Justice Waite's remark constitutes binding precedent is arguable, but subsequent rulings treat it as such. In other instances, obiter dicta can suggest an interpretation of law that has no bearing on the case at hand but might be useful in future cases. [2]
Conditions precedent are conditions that have to be complied with before performance of a contract is required by both parties With conditions subsequent, parties do not need to perform the contract if a condition is not yet (such as official certification to practice in a particular course of business).