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CORPORATE AND BUSINESS LAW
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GAD Business Management
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SEMESTER 2
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Submission Date – April 11 2011
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Lecturer: Emmanuel Fomuso
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Saurabh Menon
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ST 0009255
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1039 Words
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The Doctrine of Precedent or The doctrine of Stare Decisis
What is law: As per the International Bar Association’s “Rule of Law resolution” (2005) states that, “The Rule of Law is the foundation of civilised society. It establishes a transparent process accessible and equal to all. It ensures adherence to principles that both liberate and protect.”
The Doctrine of Precedent means that a decided rule of law is followed in similar cases until it is overturned or modified by a higher court. It is very important and lies in the heart of the English legal system, unlike the European Legal System which is based on legal models and theories. It ensures certainty and consistency and logical progression and further development in law. But it can be rigid and complex as well.
The British Legal System is based on three pillars
* Customs Law (Pre 1066 A.D)
* Case Laws/Judicial Precedent earlier known as Common Law /Law of Equity
* Statutes/Legislations
The legal systems within...