After a Particular Legal Issue Has Been Decided in a Jurisdiction,there

question 8

Multiple Choice

After a particular legal issue has been decided in a jurisdiction,there is a high probability that subsequent cases that present the same legal issue will use the same rule of law generated from already-decided cases regarding the same legal issue.This policy is known as _____.

• A)stare decisis
• B)bicameral
• C)precedent
• D)vice laws
• E)enabling legislation

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Definitions:

Security Interest

A legal claim or lien on collateral that gives a creditor the right to possess and sell the asset if the debtor fails to meet the obligations of a loan agreement.

Repossess

The act of taking back ownership of property, typically by a lender or seller, from the borrower or buyer due to failure to meet repayment terms.

Financing Statement

A financing statement is a document filed by a creditor to indicate a security interest in the assets of a debtor, typically used in relation to secured transactions.

Purchase Money Security Interest

A legal claim that allows a lender to repossess or foreclose on property if the borrower fails to repay a loan used to purchase the property.