What does the doctrine of precedent involve?

The doctrine of precedent, also known as stare decisis, is a fundamental principle in common law legal systems, which emphasizes the importance of following established legal principles derived from prior judicial decisions. The key aspect of this doctrine is that lower courts are bound to follow the decisions made by higher courts in the hierarchy. This ensures consistency and predictability in the law, as similar cases are treated alike, which reinforces the rule of law and allows individuals and entities to have an understanding of their rights and obligations under the law.

By adhering to the decisions of higher courts, lower courts contribute to the stability of the legal system, as one ruling can create binding legal standards that must be followed in future cases with similar facts. This system allows the law to evolve over time, as higher courts can refine legal principles or overrule previous decisions when necessary, but still within the confines of maintaining a coherent legal structure.

The other options reflect an incorrect understanding of how the doctrine of precedent operates. Ignoring past cases or referring to legal theories without consideration of established precedents undermines the very purpose of the legal system, which is to operate on established norms and values that have been tested and interpreted through judicial reasoning.