IOSH Managing Safely Practice Test

In legal terms, 'precedent' refers to decisions made by judges in previous cases that are utilized as a reference or guide for deciding future cases. This principle is fundamental to common law systems, where past judicial decisions help maintain consistency and predictability in the law. When a court faces a case with similar facts or circumstances as a previous case, it will often rely on the established law from that past decision to reach a conclusion. This ensures that like cases are treated similarly, promoting fairness and stability within the legal framework.

The other options represent different legal concepts that do not align with the definition of precedent. For instance, new laws passed by parliament pertain to legislative action rather than judicial guidance. Written agreements made between parties refer to contracts, which are enforceable based on the consent of the involved parties, while regulations introduced by government agencies deal with administrative law and compliance issues, unrelated to the judicial decisions that form precedents.