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In: Economics

QUESTION 2. 2.1 What is the difference between a natural person and a legal person 2.2...

QUESTION 2. 2.1 What is the difference between a natural person and a legal person 2.2 briefly explain what you understand by the docttrine of stare decsis

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Expert Solution

2.2.1. Difference between natural personal and a legal person:-

  • Characteristics of a natural person are speech and choice.where as legal person's are rights and duties.
  • Natural person is a real living being.where as legal person's are Artificial or fictitious.
  • No divisions of natural person.while there are varieties of legal persons like presidents, company etc.
  • Natural person has limited life span.where as legal person can live more than 100years.

2.2 Doctrines of stare decisis:-

  • Stare decisis is a legal doctrine that allows courts tofollow historical cases.
  • It ensure the cases with identical facts .
  • It is a latin word which means" stand by that which is decided".
  • Stare decisis dictates that courts look to precedent when an ongoing case with similar circumstances.
  • Under the rule of Stare decisis, courts are obligated to their previous rulings.
  • Stare decisis is not an "Inexorable command".
  • Stare decisis is typically used by common law legal systems.
  • Every state in United States use a common law which means they rely upon Stare Decisis.

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