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Stare Decisis Doctrine

The doctrine of stare decisis is a legal principle that dictates that courts should precedent set by earlier rulings. This principle ensures that the law is predictable and fair, and that people can rely on court decisions when making decisions. In the context of business law, the doctrine of stare decisis ensures that businesses can rely on judicial interpretations of contract law and other areas of business law when making decisions about their own business affairs.

The stare decisis doctrine is a legal principle that holds that courts should stand by their previous decisions. This principle is based on the idea that it is better to have some certainty in the law than to constantly be changing it. In the United States, this principle is based on the idea of judicial independence, which holds that judges should make decisions based on the law, not on political pressure. This doctrine is important to the American legal system because it ensures that cases are decided in a consistent manner and that the law is stable. This doctrine also helps to ensure that people have faith in the legal system because they know that the law will not change arbitrarily from one case to the next.

The principle that dictates that courts should generally respect the rulings of prior courts in similar cases can be overruled or overturned by the legislature or by the court itself in rare circumstances. In order to overturn a precedent, the party seeking to overturn the decision must show that the precedent is no longer good law or that it is causing harm to the party seeking to overturn it. For example, the court may overturn a prior ruling if it determines that the prior ruling was based on an incorrect interpretation of the law.

I believe that most businesses in the United States agree with the concept of stare decisis. This is because the principle of stare decisis helps to ensure stability and predictability in the law, which is beneficial for businesses. Additionally, businesses often prefer to operate in a predictable legal environment, and the principle of stare decisis helps to ensure that the law remains relatively stable.

Reference

Barrett, A. C. (2016). Originalism and Stare Decisis. Notre Dame L. Rev., 92, 1921.

Kozel, R. J. (2015). Stare Decisis in the Second-Best World. Calif. L. Rev., 103, 1139.