Stare Decisis

AAA

DEFINITION of 'Stare Decisis'

A Latin term meaning "to stand by that which is decided". Stare decisis is a legal principle which dictates that courts cannot disregard the standard. The court must uphold prior decisions. In essence, this legal principle dictates that once a law has been determined by the appellate court (which hears and determines appeals from the decisions of the trial courts) to be relevant to the facts of the case, future cases will follow the same principle of law if they involve considerably identical facts.

INVESTOPEDIA EXPLAINS 'Stare Decisis'

Stare decisis is a doctrine or policy of following rules or principles laid down in previous judicial decisions. It is the principal that maintains that previous decisions are to be followed by the courts. This policy dictates that the court must abide or adhere to decided cases. When a point has been settled by a decision in court, this forms a precedent that must not be departed from. However, this doctrine has been overruled by courts in some cases. International trade laws have not always followed prevous decisions and thus might produce inconsistent decisions.

RELATED TERMS
  1. Appellate Courts

    The part of the judicial system that is responsible for hearing ...
  2. Maritime Law

    A body of laws, conventions and treaties that governs international ...
  3. General Agreement On Tariffs And ...

    A treaty created following the conclusion of World War II. The ...
  4. Common Law

    In the United States, a body of unwritten laws based on precedents ...
  5. Free On Board - FOB

    A trade term requiring the seller to deliver goods on board a ...
  6. National Treatment

    A concept of international law that declares if a state provides ...
Related Articles
  1. Fighting Back Against Collection Lawsuits
    Credit & Loans

    Fighting Back Against Collection Lawsuits

  2. Sanctions Between Countries Pack a Bigger ...
    Economics

    Sanctions Between Countries Pack a Bigger ...

  3. What Is International Trade?
    Personal Finance

    What Is International Trade?

  4. The Basics Of Tariffs And Trade Barriers
    Economics

    The Basics Of Tariffs And Trade Barriers

comments powered by Disqus
Hot Definitions
  1. Certificate Of Deposit - CD

    A savings certificate entitling the bearer to receive interest. A CD bears a maturity date, a specified fixed interest rate ...
  2. Days Sales Of Inventory - DSI

    A financial measure of a company's performance that gives investors an idea of how long it takes a company to turn its inventory ...
  3. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  4. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  5. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  6. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
Trading Center