Common Law

Common Law

Common Law means:
a system of jurisprudence that originated in England and was later applied in the United States. Common law is based on judicial precedent (court decisions) rather than on legislative enactment (statutes) and is therefore derived from principles rather than rules.

See also other Tax Terms and Definitions in U.S.A.

community property.

U.S. and other Developed Countries International Tax Meaning

The body of law developed by the judiciary in systems based on English law and which is followed under the doctrine of precedent, i.e. past judicial decisions on similar cases. Much of it is now incorporated in statute. Also this term is used to describe a system ultimately based on English legal systems, as opposed to civil law systems.


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