A previous judgment cited by a court to decide a case involving a similar set of facts is called a Precedent. This concept is a fundamental principle in common law legal systems, including that of India.
Definition of Precedent:
A precedent refers to a legal decision or judgment that serves as an authoritative rule or pattern in future similar or analogous cases. When a court refers to an earlier judgment to resolve a current dispute, it is applying the doctrine of precedent.
Types of Precedents:
1. Binding Precedent: Decisions of higher courts are binding on lower courts within the same jurisdiction. For example, decisions of the Supreme Court are binding on all High Courts and subordinate courts.
2. Persuasive Precedent: These are not binding but may influence a court’s decision. For example, decisions from other jurisdictions or lower courts.
Legal Principle Involved:
The use of precedent is based on the principle of stare decisis, which means “to stand by things decided.” It ensures consistency, predictability, and stability in the application of law.
Significance:
Using precedents helps courts save time and ensures fairness by treating similar cases in a similar manner. It also contributes to the development of law by building on previously established legal principles.
Therefore, the correct answer is: Precedent.