What does the term 'stare decisis' mean?

The term 'stare decisis' refers to the legal principle that requires courts to respect and follow the precedents set by previous decisions. When a court applies stare decisis, it acknowledges that past judicial rulings should influence current cases, thereby promoting consistency and stability in the law. This principle helps ensure that similar cases are treated alike, which is essential for the predictability and reliability of the legal system.

By adhering to 'stare decisis,' courts provide a framework within which individuals and entities can understand their legal rights and obligations based on established case law. This process allows for a more orderly and just legal system, minimizing the chances of arbitrary rulings and encouraging reliance on judicial decisions that have already been determined.