Which of the following best characterizes common law?

Common law is best characterized as a body of law developed from judicial decisions and customs. This system relies on the precedents set by court rulings, meaning that the decisions made in previous cases influence the outcomes of future cases. This method of legal development emphasizes the role of judges in interpreting and applying the law based on historical rulings, rather than solely relying on written statutes or legislation. Over time, common law evolves as courts adapt to new situations, ensuring that legal principles reflect current societal values and practices.

The other options present different legal concepts. Statutory law, for instance, is based on laws enacted by legislative bodies, not judicial decisions. Administrative law pertains to rules created by government agencies and does not encompass the broader scope of common law. Lastly, the idea of a collection of laws passed by the federal government refers specifically to statutory law and does not capture the dynamic, precedent-based nature of common law. Thus, the characterization of common law as derived from judicial decisions and customs is accurate and highlights its foundational role in the legal system.