Companies depend on consistency and predictability in the laws and regulations of their industry. That allows them to make business decisions and understand the consequences. Read about the legal...

Running Head: BUSINESS LAW                                1
BUSINESS LAW         4
BUSINESS LAW
Table of Contents
Summarizing Concepts of Precedent and Stare Decisis    3
Significance of These Concepts in Providing Stability to Business Operations    3
References    4
Summarizing Concepts of Precedent and Stare Decisis
Stare Decisis means “to stand by decided matters". Stare Decisis is a legal belief that compels the courts to follow any historical cases when making any decision. This decision is based on the cases, which are similar to the historical cases. One of the advantages of Stare Decisis is that it ensures that all data are similarly taken into consideration. Stare decisis require following the precedents of other cases which are similar in the jurisdiction (Hildebrandt & Reinisch,...