Which of the following is NOT a characteristic of common law?

Prepare for the Legal Environment of Business 1 Exam. Utilize flashcards and multiple choice questions with detailed explanations. Sharpen your knowledge for the test and enhance your legal understanding in business!

The statement that codified statutes is NOT a characteristic of common law is accurate because common law primarily evolves from judicial decisions and precedents established by the courts rather than being created through formal legislative processes. Common law systems rely heavily on the principle of stare decisis, which means that past judicial decisions guide future cases, thus providing stability and predictability to the law.

Common law can indeed be flexible, allowing judges to interpret laws based on the specific circumstances of each case. This adaptability can lead to different interpretations over time as societal values change, which is another hallmark of the common law system. In contrast, codified statutes typically reflect laws that have been formally enacted by legislatures, which are characteristic of statutory law rather than common law.

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