In the context of legal systems, "common law" is best defined as:

Common law is characterized as a body of law developed through judicial decisions rather than through legislative statutes or regulations. This legal system relies heavily on precedents, meaning that the outcomes of previous court cases play a significant role in shaping current law. Judges interpret and apply existing statutes to individual cases, thereby creating legal principles that can influence future rulings. The common law tradition emphasizes the importance of court decisions and the principle of stare decisis, which requires courts to follow established precedents unless there is a strong reason to change them. This differs fundamentally from statutory law, which is written and enacted by legislative bodies, and from regulations created by government agencies, which further interpret and enforce those statutes. Additionally, common law is distinct from international trade laws, as it pertains primarily to the domestic legal system within a jurisdiction.