Statutes are the primary source of regulation, and the ability to enact statutes is reserved to elected lawmakers. However, judicial selections even have the pressure of law. Statutes do not cover every conceivable case, and even when a statute does control a case, the courts might have to interpret it. A judicial determination legally binds the parties within the case, and likewise may function a regulation in the same prospective sense as does a statute. In other words, a judicial decision determines the outcome of the particular case, and in addition might regulate future conduct of all persons within the jurisdiction of the courtroom.
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The availability and amount of property the debtor might exempt … Read More
