Etymology
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precedent (n.)

early 15c., "previous instance or circumstance which may be taken as a rule in subsequent similar cases; a custom, habit, or rule established," from the adjective precedent "preceding in time, previous, former" (c. 1400), from Old French precedent (also used as a noun) and directly from Latin praecedentum (nominative praecedens), present participle of praecedere "go before" (see precede).

Meaning "thing or person that goes before another" is attested from mid-15c. Specifically in law, "a judicial decision which serves as a rule for future determinations in similar or analogous cases," by 1680s. As a verb meaning "to furnish with a precedent" from 1610s, now only in past participle precedented.

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precedented (adj.)

"authorized by precedent, in accordance with established custom," 1650s, past-participle adjective from precedent, which is attested as a verb from 1610s.

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precedence (n.)

late 15c., "a being a precedent, previous occurrence or existence," from precedent (n.) + -ence, or from Medieval Latin praecedentia, from Latin praecedent-, past-participle stem of praecedere. Meaning "act or fact of preceding another, right of preceding another in processions, assemblies, social formalities, etc." is from c. 1600.

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ensample (n.)

"precedent to be followed, illustrative instance; a pattern, model," c. 1300, variant of asaumple, from Old French essample "example" (see example). The survival of this variant form is due to its use in New Testament in KJV (1 Peter v.3). Tyndale (1526) there has insample.

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example (n.)

late 14c., "an instance typical of a class; a model, either good or bad, action or conduct as an object of imitation; an example to be avoided; punishment as a warning," partial re-Latinization of earlier essample, asaumple (mid-13c.), from Old French essemple "sample, model, example, precedent, cautionary tale," from Latin exemplum "a sample, specimen; image, portrait; pattern, model, precedent; a warning example, one that serves as a warning," literally "that which is taken out," from eximere "remove, take out, take away; free, release, deliver, make an exception of," from ex "out" (see ex-) + emere "buy," originally "take," from PIE root *em- "to take, distribute." 

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paradigm (n.)

late 15c., "an example, a model," from Late Latin paradigma "pattern, example," especially in grammar, from Greek paradeigma "pattern, model; precedent, example," from paradeiknynai "exhibit, represent," literally "show side by side," from para- "beside" (see para- (1)) + deiknynai "to show" (cognate with Latin dicere "to show;" from PIE root *deik- "to show," also "pronounce solemnly"). In 20c. it began to be used in the more specific philosophical sense of "logical or conceptual structure serving as a form of thought within a given area of experience," especially in Thomas Kuhn's "The Structure of Scientific Revolutions" (1962). Related: Paradigmatic; paradigmatical.

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wisdom (n.)

Old English wisdom "knowledge, learning, experience," from wis (see wise (adj.)) + -dom. A common Germanic compound (Old Saxon, Old Frisian wisdom, Old Norse visdomr, Old High German wistuom "wisdom," German Weistum "judicial sentence serving as a precedent").

Wisdom teeth are so called by 1848 (earlier teeth of wisdom, 1660s), a loan-translation of Latin dentes sapientiae, itself a loan-translation of Greek sophronisteres (used by Hippocrates, from sophron "prudent, self-controlled"), so called because they usually appear ages 17-25, when a person reaches adulthood.

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-ment 

common suffix of Latin origin forming nouns, originally from French and representing Latin -mentum, which was added to verb stems to make nouns indicating the result or product of the action of the verb or the means or instrument of the action. In Vulgar Latin and Old French it came to be used as a formative in nouns of action. French inserts an -e- between the verbal root and the suffix (as in commenc-e-ment from commenc-er; with verbs in ir, -i- is inserted instead (as in sent-i-ment from sentir).

Used with English verb stems from 16c. (for example amazement, betterment, merriment, the last of which also illustrates the habit of turning -y to -i- before this suffix).

The stems to which -ment is normally appended are those of verbs; freaks like oddment & funniment should not be made a precedent of; they are themselves due to misconception of merriment, which is not from the adjective, but from an obsolete verb merry to rejoice. [Fowler]
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