Stare Decisis: Latin term meaning "to stand by things decided." It refers to courts' practice of following legal precedents set by previous decisions. Like sticking with family traditions based on past experiences.
Binding Precedent: A precedent which must be followed if the legal circumstances are similar. Like having to follow house rules set based on older sibling’s actions.
Persuasive Precedent: A precedent which a judge may consider but is not obligated to follow. Like considering older sibling’s advice, but ultimately making your own decision.