GLOSSARY
This Insurance Glossary of Terms is produced and maintained by the National Alliance Research Academy. 
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Common Law

Body of law consisting of prior precedents or rulings by judges and juries as to the facts of a case. These rulings form codes of conduct that apply to situations involving tort or contract law. Sometimes, common law is referred to as stare decisis, “let the decision stand” or res judicata, “the matter has been decided.”