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precedent noun. C2 [C] an âaction, âsituation, or âdecision that has already âhappened and can be used as a âreason why a âsimilar âaction or âdecision should be âperformed or made: There are several precedents for âpromoting âpeople who don't have âformal âqualifications.
Judicial Precedent. Judicial precedent: A judgment of a court of law cited as an authority for deciding a similar set of facts; a case which serves as authority for the legal principle embodied in its decision.The common law has developed by broadening down from precedent to precedent.A judicial precedent is a decision of the court used as a source for future decision making. This is known as stare decisis (to stand upon decisions) and by which precedents are authoritative and binding and must be followed.he common law has developed by broadening down from precedent to precedent. A judicial precedent is a decision of the court used as a source for future decision making. This is known as stare decisis (to stand upon decisions) and by which precedents are authoritative and binding and must be followed.