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In the United States, this authority is the Supreme Court; in Australia, the High Court; in India, the Supreme Court of India; within the UK, the Supreme Court; in Germany, the Bundesverfassungsgericht; and in France, the Cour de Cassation. For most European countries the European Court of Justice in Luxembourg can overrule nationwide law, when EU law is relevant. The European Court of Human Rights in Strasbourg allows residents of the Council of Europe member states to convey cases regarding human rights points before it. King John of England signs Magna Carta.In widespread law authorized techniques, choices by courts are explicitly acknowledged as “law” on equal footing with legislative statutes and executive regulations. The “doctrine of precedent”, or stare decisis (Latin for “to stand by decisions”) signifies that decisions by larger courts bind decrease courts to assure that related cases reach related results.
- Coase and others like him wished a