What term refers to a formal decision made by a jury?

The term that refers to a formal decision made by a jury is the verdict. A verdict is the conclusion reached by the jury after they have deliberated on the evidence presented during a trial. This decision can determine the guilt or innocence of a defendant in a criminal case, or the outcome of a civil case regarding liability and damages.

The importance of the verdict lies in its legal significance; it serves as the official answer to the questions of fact that were presented to the jury. The jury is tasked with weighing the evidence and deciding based on the standard of proof relevant to the case. This concept is central to the legal process, reflecting the jury's role as a fact-finder in the judicial system.

The other terms listed do have relevant meanings in legal contexts but do not describe the formal decision made by a jury. A "true bill" refers specifically to a formal charge or indictment issued by a grand jury, while a "waiver" indicates the relinquishment of a right or privilege. The term "venue" refers to the geographic location where a case is tried, not the decision itself. Thus, the correct term for the decision made by a jury is indeed the verdict.