Which term refers to case law that establishes legal precedents?

The term that refers to case law establishing legal precedents is common law. Common law is developed through court decisions and judicial interpretations rather than through legislative statutes. It evolves over time as courts make rulings on a variety of cases, and these decisions serve as precedents for future cases. This principle of following established precedents is known as stare decisis, which ensures consistency and predictability in the law.

Statutory law, in contrast, is created by legislative bodies and consists of written laws or statutes. Statutory amendments involve changes or additions to existing laws enacted by the legislature. Case rulings, while they may refer to the decisions made by courts in specific cases, do not capture the broader concept of the body of precedents that common law encompasses. Hence, the correct answer, common law, accurately describes the system where legal precedents are established through case law.