In common law legal systems, a precedent or authority's a legal case establishing a principle or rule that a court or other judicial body utilizes when deciding subsequent cases with similar issues or facts. Description The precedent on an issue's the collective body of judicially announced principles that a court should consider when interpreting the law. When a precedent establishes an important legal principle, or represents a new or changed law on a particular issue, that precedent's often k… (More on Precedents)