Explain the doctrine of stare decisis and how it has influenced the legal system.
What will be an ideal response?
Adherence to precedent is called the doctrine of stare decisis. The doctrine of stare decisis promotes uniformity of law within a jurisdiction, makes the court system more efficient, and makes the law more predictable for individuals and businesses. A court may later change or reverse its legal reasoning if a new case is presented to it and change is warranted. Based on the common law tradition, past court decisions become precedent for deciding future cases. Lower courts must follow the precedent established by higher courts. That is why all federal and state courts in the United States must follow the precedents established by U.S. Supreme Court decisions. The courts of one jurisdiction are not bound by the precedent established by the courts of another jurisdiction, although they may look to each other for guidance.
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Most corporations must estimate their annual income taxes and make
a. annual payments. b. semiannual payments. c. monthly payments. d. quarterly payments.
Explain how a company can control small payments that must be made in cash rather than by check
What makes the analysis of a service company different from the analysis of a merchandising company?
The current asset section of the balance sheet should include:
a. land. b. trademarks. c. investment in C Company (for purposes of control). d. dividends payable. e. work in process inventory.