What is the definition of common law?

Study for the Business Law Test. Use flashcards and multiple choice questions, each equipped with hints and explanations. Prepare for your exam with confidence!

Common law is best defined as law created by judges through case decisions. This type of law develops over time through judicial rulings and precedents established in previous cases, forming a body of law that is recorded and can be referenced in future legal decisions. It contrasts with statutes, which are laws enacted by legislative bodies, or constitutional provisions, which are derived from amendments to the constitution.

In the context of common law, judges interpret existing laws and make determinations based on the specifics of a case, which can lead to the evolution of legal principles. This foundation allows for flexibility and adaptability within the legal system as new situations arise that may not be explicitly addressed by statutes. By prioritizing judicial decisions, common law enables the law to develop in response to societal changes and the nuances of individual cases.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy