Public Health Law Map - Beta 5.
We could talk about equity in financial and accounting terms, meaning the value of ownership interest such as in property, stock, mortgage, company shareholding, income, etc. Or we can stick to the straightforward matter of Equity in law.
Broadly speaking, Equity is administered in tandem with the common law.
Certainly in the modern Common Law world at least, Equity has high relevance. For starters, courts already have statutory remedies, which are expressly provided for in the legislation. This means the winner of a lawsuit gets statutory remedies by right in most normal circumstances.
Equity arose several centuries ago from the English legal system. Equity is entirely a creation of the courts to provide an additional set of measures — equitable remedies — where statutory remedies are unavailable, inapplicable or incomplete for some reason.
The injunction and the specific performance are the two most famous forms of equitable remedies and the commonest applied in most legal situations.
There are at least a dozen others, depending on the jurisdiction. In the modern Common Law world, both statutory and equitable remedies have long merged and a single court can administer one or both. The Equity of English or American common law is strictly the legal rules as fixed as the other rules of English law .
So a conversation between Common Law lawyers and Civil Code lawyers can take on the double surrealism of confusion and misunderstanding at a fundamental level. Hopefully the situation has changed since my time in the profession. Another reason is the nature of the legal system itself.
The confusion and misunderstanding about Equity tends to be greater on the Civil Code side overall. Newman, Equity and Law: A Comparative Study New York: Razi, Reflections on equity in the Civil Law countries.
Common law follows the doctrine of precedent - the doctrine that judges are hound to treat as binding on them the essential legal grounds of decisions adopted in similar cases previously determined in courts of higher or perhaps equal status. Common Law. The ancient law of England based upon societal customs and recognized and enforced by the judgments and decrees of the courts. The general body of statutes and case law that governed England and the American colonies prior to the American Revolution. THE RELEVANCE OF TORT LAW DOCTRINES TO RULE 10b SHOULD CARELESS PLAINTIFFS BE DENIED RECOVERY? Margaret V. Sachs* INTRODUCTION Private litigation under section 10(b) l of the Securities Ex- change Act of and rule lOb is at present riddled with tort law doctrines.4 Familiar tort concepts such as aiding and abet-.
Accessed via the American University Law Review site.In the Common Law jurisprudence, a trust is "the legal relationship between one person having an equitable ownership in property and another person owning the legal title to such property." In the context of the Public Trust Doctrine, the legal title is vested in the state and the equitable title in.
John Hanna,The Role of Precedent in Judicial Decision, 2 Vill. L. Rev.
(). ought to rest in peace." ' Blackstone says: "The doctrine of the law then is this: that precedents and rules be followed, unless flatly absurd HISTORY OF THE COMMON LAW 65 (Runnington ed.
). The history. 1 CHAPTER ONE GENERAL INTRODUCTION INTRODUCTION By virtue of the legal and judicial legacy bestowed on Nigeria by colonial masters, common law principles, rules and doctrines have tremendous influence .
A common law system is the system of jurisprudence that is based on the doctrine of judicial precedent, the principle under which the lower courts must follow the .
fication trajectory of the doctrine, particularly in terms of the types of trans-actions that were being litigated." The movement from the common law to codified statute brought with it the potential application of a complex web of authority regarding interac-.
The Importance of Precedent In a common law system, judges are obliged to make their rulings as consistent as reasonably possible with previous judicial decisions on the same subject.
The Constitution accepted most of the English common law as the starting point for American law.