Common law,also known as judge-made law, predates parliament and remains a vital part of Australia's legal system today. It develops through judicial decisions, accumulating over centuries into the principles and rules that govern areas like contract law. Central to the common law is the doctrine of precedent. Courts are bound by the decisions of higher courts, ensuring consistency in how the law is applied. Where a case raises entirely new facts, a judge may develop a new principle. While statute law now takes precedence where it covers the same ground, the common law continues to fill the gap. This course is a legal education resource produced by the Legal Literacy Foundation (thellf.com.au). It does not constitute legal or financial advice and should not be relied upon as a substitute for advice specific to your business situation. For advice tailored to your circumstances, consult a qualified legal or financial professional....