Legal Question in Business Law in New York

Re: Bus Law

the facts in your case are simialr to the facts in the other case, so the court can look to the decsion made by the other court in that earlier case and use it as precedence in the newer case.

Re: Bus Law

When there is no statute that determines the outcome of a dispute, the court looks to past precedent, which is past case law in which the facts were so similar to the current dispute's facts that the court can decide the current dispute that upholds the law made by the past cases. But sometimes the court decides the law should be changed and the case law takes a new direction until a higher court either turns it back onto the original path, agrees with the new path, both or sets the law down a completely different path.

That is of course how it works everywhere in the US aside from Louisiana, where there is no such thing as case law. Instead, the courts look to statues and the civil code for answers to all disputes.