Final answer:
Precedent is crucial for maintaining legal consistency and predictability, ensuring equality before the law, and influencing public policy. Under the principle of stare decisis, courts base their decisions on previous rulings, thereby supporting a coherent judicial system.
Step-by-step explanation:
Precedent, while not an absolute constraint on the courts, is needed to maintain legal consistency over time, so confusion and uncertainty about the law can be avoided. This principle, known as stare decisis, ensures that decisions are based largely on rulings from the past, influencing tomorrow's rulings as well. Judges look to precedent to guide and justify their decisions, applying the rule of law contained in earlier cases to the current ones, thereby fostering consistency and predictability in the legal system.
Precedent also plays a critical role in upholding the rule of law and ensuring equality before the law. When judges interpret the Constitution and laws, their decisions can influence public policy and address social conflicts, adhering to the principles of justice and fairness. Although justices may interpret precedent to align with their preferred outcomes, the overarching goal is to maintain coherence within the judicial system and help litigants have faith in the even-handed administration of justice.