What do you mean by the word “Precedent”?

According to Dias, a precedent is a previous instance or case which furnishes an example or rule for subsequent conduct and a pattern upon which subsequent conduct is based.

 ‘Judicial precedent’ means a judgment of a Court of law cited as an authority for deciding a similar set of facts; a case which serves as authority for the legal principle embodied in its decision. A judicial precedent is a decision of the Court used as a source for future decision making.

 A precedent means anything said or done by a Court, which furnishes a rule for subsequent conduct.  Salmond says, “Precedents are judicial decisions followed in subsequent cases”. Our judicial system is a three-tier system under the Constitution of India. Apex Court is the Supreme Court, below it there are High Courts of each State and below the High Court there are subordinate courts in that state.