With reference to the nature and classification of law, differentiate between Statute law and judicial precedent

With reference to the nature and classification of law, differentiate between Statute law and judicial precedent

ANSWER
Statute law

• Statute law is law made by parliament directly.
• It creates new law where none existed or amends existing law.
• It creates rules to regulate future conduct.
• It is formal and supreme over unwritten law.

Judicial Precedent

• Judicial precedent or stare decisis or caselaw is a system of administration of justice whereby previous decisions are relied upon in subsequent similar cases.
• The ratio decidendi of an earlier decision is relied upon in a subsequent similar case.
• It does not always create new law.
• It is based on reasoning and is unwritten.
• It is subordinate to statute law.