In common law systems, the doctrine of precedent plays a crucial role in ensuring consistency and predictability in the application of law. Precedents are legal decisions handed down by judges in past cases, which serve as authoritative guidelines for future cases with similar facts or legal issues. When a court is faced with a new case, it will look to relevant precedents to guide its decision-making process. There are two types of precedents: binding and persuasive. Binding precedents must be followed by lower courts within the same jurisdiction, while persuasive precedents are not binding but can be considered for their persuasive value. The concept of stare decisis, or let the decision stand, is central to the doctrine of precedent. It means that courts are generally bound by their own previous decisions and the decisions of higher courts in similar cases. This principle ensures consistency in the interpretation and application of law over time. The doctrine of precedent is not without limitations, as it can sometimes lead to rigid outcomes or perpetuate unjust decisions. However, it remains a fundamental principle of common law systems and a cornerstone of legal reasoning and decision-making.