Asked by Mario Alberto on May 07, 2024
Verified
Case law interpretations are law, unless they are revoked later by new statutory law.
Case Law
Law established by previous court decisions and based on precedent rather than statutory laws.
Statutory Law
Law enacted by a legislative body, such as Congress or state legislatures, distinguished from case law or common law.
- Familiarize oneself with the origins of laws governing commercial engagements and the synergy between codified laws and judicial decisions.
Verified Answer
ZK
Zybrea KnightMay 08, 2024
Final Answer :
True
Explanation :
Case law, also known as precedent or common law, consists of the interpretations made by judges in the rulings of individual cases. These interpretations become law within the jurisdiction of the court that made them, guiding future cases, unless they are overridden by a new statute passed by the legislative body.
Learning Objectives
- Familiarize oneself with the origins of laws governing commercial engagements and the synergy between codified laws and judicial decisions.