The American Legal Heritage
Differentiating legal precedent and stare decisis has been a daunting task for many. In most cases, people use the two concepts interchangeably. Drawing a line between them is imperative.
Stare decisis refers to a legal doctrine that mandates courts to review and follow historical cases when deciding similar but current or future cases. It requires that cases with same facts be handled in an identical manner unless overruled by a higher court (McCord, McCord & Bailey, 2012). The words stare decisis are from Latin and mean to go by what has already been decided.
Stare decisis is closely linked to legal precedent. Nevertheless, they do not mean the same thing. A precedent is a past judgment on a particular case. As earlier mentioned, stare decisis demands that courts refer to precedent when analyzing a prevailing case with a similar condition (McCord, McCord & Bailey, 2012). It, therefore, goes without saying that it demand courts to follow legal precedents established by past rulings.
As a paralegal, it is vital to be acquainted with the two concepts. An accurate knowledge of these concepts will facilitate conviction in the law. Moreover, predictableness within the judicial system will be possible if a paralegal understands what the concepts mean.
Besides the two concepts are essential in various ways. For instance, they help courts save time in making decisions on cases under consideration. In addition, by offering guidance in relation to how the case needs to be, the concepts help courts not to make mistakes in judgments. They also help in maintaining consistency in cases (McCord, McCord & Bailey, 2012).
An illustration that can help acknowledge how stare decisis and judicial precedent operate is a case of insider trading. It involves taking advantage of material non-public information for financial benefits. In dealing with this issue, the precedent referred to by courts is of Dirks v Sec, a 1983 case. The supreme court of the US established that an individual is guilty if he or she, whether directly or indirectly, benefited trades information to another party that works on it.
In summary of the discussion, judicial precedent and stare decisis are significant concepts in the judicial system. Getting acquainted with them can be beneficial to individuals in various ways.
References
McCord, J. W. H., McCord, S. L., & Bailey, C. S. (2012). Criminal law and procedure for the paralegal:
Systems approach. Clifton Park, NY: Delmar Cengage Learning.
