Answer:
There are numerous advantages to the doctrine of judicial precedent. These advantages include;
1. It leads to certainty, consistency, and uniformity of laws.
2. It helps the court to save time, resources and energy since the court can easily refer an already decided case in which facts are similar to that which it is handling at the time in question.
3. It promotes fairness and justice where the facts of the present case are on all fours with that of an earlier decided case.
4. It leads to the quick and timely dispensation of justice.
The disadvantages are that:
1. It does not give room for judicial activism since it posits that already laid down judicial decision is to be followed, thus preventing legal development and advancement.
2. It leads to rigidity in the legal system and unnecessary restrictions on the advancement of the legal system.
Explanation:
Judicial Precedent otherwise known as the Doctrine of Stare Decisis is the principle of law that posit that court of lower jurisdiction are bound to follow the decisions of courts of higher jurisdiction that are on all fours with the matter that they are handling.
Congress(house of representatives and the senate put together)
Answer:
risk-a chance or possibility of loss
term-a specified period of time
tendency-a pattern that is likely to be followed
interest rate-an amount charged to use borrowed money
return-the money earned on an investment in a certain period of time
Explanation:
His plan was to retire the old depreciated obligations by borrowing new money at a lower interest rate.
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