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Precedents are not binding statements which future judges must follow. They are in fact guiding principles.” Do you agree  

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"Precedents are not binding statements which future judges must follow. They are in fact guiding principles." Do you agree? Introduction The doctrine of precedent is that of stare decisis (standing by previously decided rules of law). It only applies to rules of law decided in superior courts, is applicable to all future cases, and is immediately operational. It should be distinguished from res judicata, which means standing by a past decision unless it is reversed (as distinct from overruled) on appeal, applicable in all courts, only affecting the parties to a case, and operational once all appeals have been exhausted. Both doctrines are of practice rather than law, although they are, in effect, as binding (or more so) than any statute. Judicial overruling is retrospective (i.e. any cases that appear before the court in the future having happened before the date of overruling will be decided on the basis of the...

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