Final answer:
Stare decisis, meaning 'let the decision stand', is the principle of following previous court decisions to ensure legal consistency and is closely related to precedent, which are the established guidelines from earlier rulings.
Step-by-step explanation:
The relationship between stare decisis and precedent is foundational to the operation of the American legal system. The principle of stare decisis is a Latin term meaning "let the decision stand" and dictates that courts should follow the decisions made in previous similar cases, using them as guidelines and benchmarks for future rulings. This approach ensures consistency and predictability in the law, allowing it to adapt over time while maintaining a foundational stability. Precedent refers to the principles or guidelines established by these earlier cases, which frame the ongoing operation of the courts. While precedent is revered, the courts do have the ability to overturn previous decisions, especially when they conflict with evolving understandings of rights and justice, exemplified by changes from rulings like Plessy v. Ferguson to Brown v. Board of Education.