Reliance on Precedent Is a Fundamental Notion in Law

question 84

Multiple Choice

Reliance on precedent is a fundamental notion in law. It is referred to in Latin as

• A) stare regulatius.
• B) stare maximus.
• C) stare instatius.
• D) stare decisis.

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Definitions:

Large Number of Firms

A characteristic of competitive markets where many firms are present, each having a small share of the market and influencing the price minimally.

Defining Characteristics

The unique attributes or qualities that clearly distinguish a person, object, concept, or phenomenon from others within its category or domain.

Small Businesses

Independently owned and operated companies with limited revenue and number of employees, serving local markets.