What is the basic difference between common law and statutory law?

The selection is rooted in the distinction between the sources of law. Common law is established through the customs and judicial precedents that emerge from court decisions over time. It evolves as judges interpret laws and resolve disputes, creating a body of case law that guides future cases. This system allows for flexibility and adaptability in the law, as it can reflect changes in societal values and norms through judicial decisions.

On the other hand, statutory law consists of formal written laws enacted by legislative bodies, such as Congress or state legislatures. These laws are specifically crafted, discussed, and codified through a legislative process, which often includes public input and numerous debates.

The other options contain inaccuracies regarding the definitions and applications of common law and statutory law, such as mischaracterizations of their origins, applicability, or nature. The correct choice accurately captures how each type of law is formed and recognized within the legal system.