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Doctrine of precedent is one of the principles that underpins the common law and requires the judges and magistrates to follow or apply rulings of judges in higher courts only if the facts presented in the previous decisions were similar to the case being heard currently and if the previous decision was made by the superior court in same hierarchy. Decisions that the courts are required to follow are known as binding precedents. The main idea behind doctrine of precedents is that the judges while deciding cases should pay proper respect to the previous judicial decisions on the similar cases. Precedents exists only in British Common Law and is not used in other major legal systems across other nations and they are less restricted to give their decisions by considering the previous decisions. The key features of doctrine of precedent is of making judgement based on the previous decisions made in similar cases. There are binding precedents in some cases and others are non-binding and persuasive precedents.