The fact that this system exists “independently of anyone’s will” earned it praise from Friedrich Hayek, who emphasized how it is spontaneously created. Countries (-5[1])that have adopted this system have deeper capital markets according to Shleifer, Vishny, and co-authors. Today, this system exists concurrently with a system based on equity originally developed by the Chancery. Classic texts about this system (10[1])include a set of 17th-century “Institutes” by Edward Coke and 18th-century (10[1])“Commentaries” (-5[2])by William Blackstone. (10[5]-5[3])This system (10[3])is (10[1])distinguished (10[3])by (10[1])reaching (10[1])decisions based on stare decisis (10[1]-5[4])(“STAIR-ee duh-SIGH-siss”). This largely (10[1]-5[1])Anglo-American (10[2])system (10[1]-5[1])contrasts (10[2])with one (10[1])established (10[1])in continental Europe (10[1])by the Napoleonic Code. (10[2])For 10 points, (10[1])name this system of law based on judicial precedents, (10[1])contrasted with civil law. ■END■ (10[6]0[5])