Common law developed primarily from what source?

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Prepare for the UCF BUL3130 Legal and Ethical Environment of Business Exam 2. Dive into legal and ethical concepts with flashcards, multiple-choice questions, and detailed explanations. Get exam-ready with comprehensive study resources!

Common law primarily developed from judicial decisions. This legal system is based on precedents established in previous court cases, where judges make rulings that set examples for future cases. As judges interpret laws and apply them to specific situations, their decisions become part of a body of law that evolves over time. This case law is particularly important because it emphasizes the way judicial interpretations can shape legal standards and fill in gaps where legislative statutes may be silent or ambiguous.

The development of common law contrasts with statutory law, which is created through legislative processes. While statutory law is codified and written down, common law relies heavily on the decisions made by judges and the context in which those decisions are rendered. The dynamic nature of common law allows it to adapt to changing societal norms and values as new situations arise that may not have been addressed directly by existing statutes.