Precedents has got lot of importance in practicing law. why and what for?

Thanks

Await for more answers from colleagues 

precedent is a decision already happened in a case. So it is considered as a law while decidng a similar cases. 

In my opinion is two point of analise summary this question:

First: consistency in law application, similar solution in similar cases in different courts.

Second: instruments to improve actual legislations and forming new and actual (adapted to society needs) laws.

A 'Smart' Question indeed!

I fully endorse Your Wonderful/Constructive submission Mr.  Gayasuddin Mohammed. Bundle of thanks.

- When there is an ambiguity in any provisions of law for applying the law to the case in hand.

- when there is any provision of law is defeating the very objective of the law for application to the case in hand.

- to follow the standards and consistency in the decisions

- guidance to sub-ordinate judiciary.

few points.

Thanks.