The Courts of One Jurisdiction Are Not Bound by the Precedent

question 97

True/False

The courts of one jurisdiction are not bound by the precedent established by the courts of another jurisdiction,although they may look to each other for guidance.

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Definitions:

Cash Price

The actual price a buyer pays in cash at the time of purchase, as opposed to credit purchase terms.

Hedge Position

An investment made to reduce the risk of adverse price movements in an asset, usually through derivatives like options or futures contracts.

Bushels

A unit of volume measurement used primarily in agriculture, particularly in the United States, for grains and other dry commodities.