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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.
Common law (also known as case law or precedent) is law developed by judges, courts, and similar tribunals, stated in decisions that nominally decide individual cases but that in addition have precedential effect on future cases.ommon law is a third branch of law, in contrast to and on equal footing with statutes which are adopted through the legislative process, and regulations which are promulgated by the executive branch.