Common law equity - confirm
What is law and why is it necessary? Explain why equity developed and how it differs from the common law. What is the present relationship between the two systems? Delivering a high-quality product at a reasonable price is not enough anymore. This describes us perfectly. Make sure that this guarantee is totally transparent. Each paper is composed from scratch, according to your instructions.Common law equity Video
2 7 Common Law and Equity common law equity.
Since the terms Common Law and Equity represent two branches or avenues of Law not created by legislation, we should get to know the difference between common law and equity. One understands Common Law to mean precedent or law created by decisions of the courts.
Equity, on the other hand, is associated with the principles of fairness and equality. Although the tendency is to use the two terms synonymously, there are differences between the two that are more fully explained below. Common Law is more popularly known as case alw, precedent law or judge-made law.
The reason for the above names is because Common Law, in fact, constitutes rules of law developed by the courts through its decisions. The origins of Common Law can be traced back to the early centuries to rules developed by the royal courts after the Norman Conquest in These rules developed by the royal courts were recorded and thereafter used as authority or as a guide for future cases or disputes. The decisions, therefore, were viewed as rules common law equity law.
The unique feature of Common Law is that unlike statute or legislationCommon L aw rules are developed on a case-by-case basis. If, however, the nature of the commob is such that precedent does not directly apply, the court will take into account the present trends in society, practice and rules common law equity law and thereafter deliver a judgment tailor-made for that particular case.
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This decision thereafter becomes precedent and therefore binding on any future cases of a similar nature. Common Law thus has a unique capability to adapt to the changing trends in society. Equity is often referred to as the second branch of English law which originated after the introduction of Common Law. In medieval England, parties aggrieved by a decision of the court would petition the King to do justice regarding the harsh judgment. Equity was common law equity with the intention of alleviating the harshness and inflexibility of the Dommon Law rules at the time or the rigid interpretations given to such rules by the Courts. A body of general principles developed common law equity these general principles are more commonly known as maxims of equity. Some of these maxims include:. Furthermore, where there was a conflict between Common Law and Equity, it was accepted that the rules of Equity prevailed.
What is Common Law?
Principles governing Trusts, equitable interests over property and equitable remedies fall within the purview of Equity. Coming from Engineering cum Human Resource Development background, has over 10 years experience in content developmet and management. Leave a Reply Cancel reply.]
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