21. But the further question remains. The Privy Council in Slazengers (Australia) Pty. Ltd. v. Burnett (1951) AC 13; (1950) 51 SR (NSW) 1 , as I understand their reasons, decided the construction of the Act in the sense adopted by Sir Owen Dixon. In times when this Court's decisions were reviewable by Her Majesty in Council, there could have been no question but that, whatever we might think to be the true construction of the Act, this Court would have been bound to follow and apply their Lordships' definitive reasons. But no longer may appeals against the orders of this Court be entertained by Her Majesty in Council, saving only the case of a matter within s. 74 of the Constitution in which this Court has seen fit to grant the appropriate certificate. Two relevant questions arise in consequence. Do the reasons for decision which the Privy Council has already expressed continue to bind this Court; that is to say, do they form precedent which the Court is under obligation to follow? Are they, in any case, precedents which so far form part of the body of the law as to the precedents, which the Court, whilst not obliged to follow them, ought to do so as an exercise in stare decisis? It is said to be "an established rule to abide by former precedents, stare decisis, where the same points come again in litigation, as well to keep the scale of justice steady, and not liable to waver with every new judge's opinion, as also because, the law in that case being solemnly declared, what before was uncertain and perhaps indifferent, is now become a permanent rule, which it is not in the breast of any subsequent judge to alter according to his private sentiments; he being sworn to determine, not according to his own private judgment, but according to the known laws of the land - not delegated to pronounce a new law, but to maintain the old - jus dicere et non jus dare": see Broom's Legal Maxims 9th ed. (1924), p. 103. But within this body of precedent there are decisions or statements of principle which a court will be obliged to follow and apply. The ultimate foundation of precedent which thus binds a court is that a court or tribunal higher in the hierarchy of the same juristic system, and thus able to reverse the lower court's judgment, has laid down that principle as part of the relevant law. Outside the area of binding precedent, there is an area where comity or respect for the high standing of a court outside that juristic unit dictates that the views of such a court in general be accepted unless the court is clearly convinced of the erroneous nature of the decision or reasoning of that other court, and there are sufficient reasons for departing from that decision or that reasoning. Thus, respect is accorded to the decisions of the House of Lords and, perhaps to a lesser degree, those of the English Court of Appeal. In line with this approach to decisions which do not bind as precedents, no doubt this Court will at least accord a like respect to decisions of the Privy Council to that which it is accustomed to accord to the House of Lords. (at p591)