A Precedent can be defined in Legal terms as an already established rule of law or principle which is cited as an authority over court case with similar facts.
The already established rule of law that is derived from a court case. It is used by lawyers as well as judges to make decisions on cases that have similar characteristics with the case from which the rule of law was derived from.
The use of precedents in court cases help to produce consistency in the judgements.
Judgements or rulings in higher courts are used a precedents in lower courts that are within same system.
