Final answer:
Stare decisis is a common law doctrine that compels judges to follow established precedents to ensure legal consistency; however, it's not a strict statutory rule as judges retain the ability to overrule precedents when justified by societal evolution or legal interpretation.
Step-by-step explanation:
Stare decisis is not a statutory rule but rather a common law doctrine that requires judges to follow precedents—past court decisions—in order to ensure consistency in law. It allows the legal system to maintain stability and predictability by providing that, as a general rule, courts should adhere to principles established in previous cases when ruling on cases with similar facts.
Judges do, however, have the discretion to overrule precedent if they believe it to be outdated or incorrect, especially when changes in social, moral, or technological landscapes occur. Through this mechanism, the law can evolve over time. High-profile instances, like the contrasting rulings of Plessey v. Ferguson and Brown v. Board of Education, highlight how societal change can precipitate shifts in legal interpretations and precedents.