Are christians bound to accept the canon of scripture?

In James White's debate with Patrick Madrid on Sola Scriptura James White stated:

"That which is not found in Scripture is not binding upon the Christian conscience. "

I am not able to reconcile this statement with the individual christian's acceptance of the canon of scripture. Doesn't that statement mean that no christian is bound to regard any books as scripture if scripture itself does not say so?

On the basis of the above statement, why can't a book such as Jude for example be excluded from the canon of scripture at the whim of any christian?

To see the above quote in context, make reference to the written transcript of the debate between James White and Patrick Madrid: http://vintage.aomin.org/SANTRAN.html