With reference to the nature and classification of law, differentiate between the following; Statute law and judicial precedent

• Statute law is law made by parliament directly.
• It creates new law where none existed or amends existing law.
• It creates rules to regulate future conduct.
• It is formal and supreme over unwritten law.

• Judicial precedent or stare decisis or caselaw is a system of administration of justice whereby previous decisions are relied upon in subsequent similar cases.
• The ratio decidendi of an earlier decision is relied upon in a subsequent similar case.
• It does not always create new law.
• It is based on reasoning and is unwritten.
• It is subordinate to statute law.