Dictionary of Business Terms: stare decisis
stare decisis
(Latin for "to stand by [previously] decided [cases]") rule by which courts rely upon judicial precedent as a compelling guide to decision of cases raising issues similar to those in previous cases.
Dictionary of Insurance Terms: stare decisis
stare decisis
Latin phrase meaning "to stand by the decisions." This legal doctrine under common law requires courts to rely on precedents, or previous decisions, when deciding disputes unless there is a compelling reason to reject those precedents. In most instances, this doctrine means that courts will decide disputes over insurance contracts the same way they have decided cases with similar facts and legal issues in the past.
