This document discusses four major schools of jurisprudential thought: natural law, positivism, historical, and legal realism. It also outlines the major sources of American law including constitutions, statutes, regulations, case law, and common law. Common law originated in England and was based on traditions and past cases. Under common law, separate courts of law and equity provided different types of legal remedies. While separate historically, modern U.S. courts now provide both legal and equitable remedies. Courts rely on precedent through stare decisis to promote consistency and predictability in legal decisions.