A verdict is rendered after the case is heard by a Judge. This verdict sets a precedent for all future similar cases; therefore common law is formed on the basis of previous judgments. There are some examples, negligence, torts, fiduciary duties and other equitable rights and contracts that come under common law jurisdiction. Common Law precedents can also result from interpretations of statute law. Common law can become statute law by the power of the day, (Parliament) turning a common law precedent into statutory …show more content…
Legislation consists of Statutes (or Acts) and Delegated Legislation which are usually Regulations. Federal and State Parliament have the power to pass laws only within their area of jurisdiction. Federal laws apply to the whole of Australia and State laws apply to individual states. The creation of a Statute is through a Bill, an issue which is brought before Parliament. A proposal to either amend an existing law or a creation of a new one. A bill goes through three readings stages, then the Senate which enacts the three readings again. Once the bill has been passed through by the upper house and the lower house, it is presented to the governor-general. Usually, ‘assent’ to the new law means approval has been given by the Queen and the bill now becomes law. Once it is a law, it becomes an Act or Statute and no longer referred to as a bill. The second method of Statute Law is formed from codification of Common Law, if enough precedence is set, it can become a piece of legislation. The collation of a group of common laws all concerning one topic becomes an Act of