Final answer:
Historical legal precedents indeed form the basis of common law, with courts using past decisions to guide current rulings while allowing for change when justified.
Step-by-step explanation:
The assertion that historical legal precedents form the basis of common law is true. Common law, also known as case law or precedent, is the body of law that is developed by judges through decisions in court cases. This system relies heavily on stare decisis, a Latin term meaning 'to stand by things decided.' Hence, judges look to prior case decisions as guides for resolving current disputes, ensuring consistency and stability within the legal system. When faced with a similar fact pattern, courts are expected to follow the established precedents unless there is a strong justification to deviate.
These precedents are not only a record of past rulings but also serve as a touchstone for future judicial decisions. The U.S. court system, and indeed many other legal systems that follow the common law tradition, honor the principle that similar cases should receive similar treatment, while also allowing for the law to adapt over time. This adaptability is evident in landmark shifts observed when societal values change significantly, such as the turn from Plessy v. Ferguson to Brown v. Board of Education.