Final answer:
The Supreme Court's power of judicial review allows it to declare acts of other branches unconstitutional but does not permit it to overrule its own established precedents or initiate cases. It was established by the Supreme Court in Marbury v. Madison in 1803 and is used sparingly.
Step-by-step explanation:
The Supreme Court's Power of Judicial Review
The Supreme Court's power of judicial review allows it to declare acts of the other branches unconstitutional, thereby maintaining a system of checks and balances within the government. This power, however, does not permit the Court to overrule its own established precedents, nor can it use this power to initiate its own cases.
The only options given that the power of judicial review permits the court to overrule are acts of Congress or the Executive branch, or state actions; it does not establish the three-tiered court system, nor does the original Constitution expressly grant this power to the Supreme Court.
Judicial review was established in the landmark Supreme Court case Marbury v. Madison in 1803, when the Court asserted this power for itself, setting a precedent for future interpretations of the Constitution. The decision in this case, led by Chief Justice John Marshall, shaped the future role of the judiciary as a protector and interpreter of the Constitution.
It's important to note that the power of judicial review is rarely used, as the Court has only struck down a relatively small number of laws in its long history. This restraint demonstrates the Court's careful consideration before declaring any legislative or executive action as unconstitutional.