Peer review plays a central role in scholarly publishing. In a peer-reviewed ("scholarly") journal, articles are not accepted for publication until they have gone through the process of being read and critiqued by experts in the author's field (i.e., peers). Peer review helps to validate research and establishes a method by which that research can be evaluated as credible.
Because of the strict standards for publishing set by a peer-reviewed journal, articles in such publications are examples of the best research practices in a given field. However, keep in mind that even peer-reviewed journals will sometimes publish editorials or letters - these are considered opinion pieces and would not be suitable for use as a "scholarly" source.