"Stare decisis" is the Latin term for the legal principle we commonly refer to as "prededent."
"Stare decisis" (Latin) in literal translation means to "stand by things decided." The common legal term "precedent" refers to a court decision that establishes a principle or rule. The principle established by the court's decision is used in other cases after that when courts encounter other cases that pertain to similar issues or circumstances. Decisions of a higher court are binding as precedent on any lower courts in the system, so a decision made by the US Supreme Court becomes binding on lower federal courts and state courts. A decision made by a state court would be binding on any county or municipal courts within that state.