Another word for stare decisis is:

Stare decisis is a legal doctrine that refers to the principle of adhering to precedent in judicial decision-making. When courts follow previous rulings in similar cases, they are acting in accordance with stare decisis, which helps ensure consistency and predictability in the law. The term "precedent" refers directly to those past decisions that set the legal standards or rules that lower courts are bound to follow.

In this context, the significance of precedent is that it promotes stability in the legal system by guaranteeing that similar cases are decided in a consistent manner. This fosters public confidence in the judicial system, as parties to a case can reasonably anticipate how similar matters may be resolved based on established legal principles. Therefore, the relationship between stare decisis and precedent is direct and foundational to how courts operate.