Canadian Accredited Insurance Broker (CAIB) Three Practice Exam

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What is the name given to the collection of written decisions in the legal system?

Case Law
Statute Law
Public Law
Common Law

The correct answer is: Case Law

The term that refers to the collection of written decisions in the legal system is known as "Case Law." This body of law is formed by the judgments and decisions made by courts in individual cases, which create precedents that guide future cases. Case law plays a crucial role in shaping the law as it reflects how statutes and legal principles are applied in real-life situations. Lawyers often rely on case law to understand how judges interpret laws and to predict the outcomes of similar cases based on historical judgments. Statute Law refers to laws that are written and enacted by legislative bodies, which are distinct from the judge-made case law. Public Law encompasses laws that govern the relationship between individuals and the government, whereas Common Law pertains to the broader legal system that is based on judicial precedents and customs. While both Common Law and Case Law involve court decisions, the term "Case Law" more specifically denotes the compilation of those decisions.