Stare decisis is a legal doctrine that obliges courts to follow historical cases when making a ruling on a similar case.
Stare decisis is like following your grandma's recipe when baking cookies. You stick with what has been proven successful in the past instead of experimenting with new ingredients each time you bake.
Precedent: As mentioned above, this refers to an earlier event or action regarded as an example or guide for future circumstances.
Common law: This is law developed by judges through decisions of courts and similar tribunals (as opposed to statutes adopted through the legislative process).
Legal principle: A fundamental truth or proposition that serves as the foundation for a system of belief, behavior or chain of reasoning.
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