Final answer:
President Washington set the precedent of serving only two terms as President in the United States, refusing to run for a third term.
Step-by-step explanation:
George Washington, who had been reelected in 1792 by an overwhelming majority, refused to run for a third term, thus setting a precedent for future presidents. In the presidential election of 1796, the two parties-Federalist and Democratic-Republican-competed for the first time. Partisan rancor over the French Revolution and the Whiskey Rebellion fueled the divide between them, and Federalist John Adams defeated his Democratic Republican rival Thomas Jefferson by a narrow margin of only three electoral votes. In 1800, another close election swung the other way, and Jefferson began a long period of Democratic-Republican government.