MARKET 1 Lecture Notes - Lecture 37: Ratio Decidendi, Common Law, Modus Tollens
Document Summary
Arguments for precedent and analogy are central to common law systems but importance is not limited to common law systems. Precedent: when an earlier decision is followed in a later case because both cases are the same. Analogy: when an earlier decision is followed in a later case because the later case is similar to the earlier one. Doctrine of stare decisis (i. e. standing by things decided): past decisions have practical authority over the content of the law. Later courts are bound to follow earlier decisions: place of stare decisis in common law somewhat strong version" of stare decisis. However, this is not as rigid as it may seem: binding and persuasive, b) mechanism of the common law. Applying: simply follow the precedent and using its ratio in the current case. Approval: shows approval for the prior case without necessarily applying it. Overruling: a higher court declares the precedent to be wrong (making it bad law").
