How did the Court of Chancery develop?
How did the Court of Chancery develop?
It began to develop in the 15th century as a court of equity to provide remedies not obtainable in the courts of common law. Today, courts of chancery or equity are still maintained as separate jurisdictions in certain areas of the Commonwealth and in some states of the United States.
What is the difference between common law and equity?
Common law and equitable right has two different function in that, common law establishes general rules which provide certainty, while, equitable rights acts as a check and balance of common law. This arises from the strict application of the common law.
What does statute law mean?
We often speak of two broad sources of law: statute law (the law made by the Commonwealth, State and Territory Parliaments) and common law (for present purposes, the law made by judges in the exercise of both common law and equitable jurisdiction1). These sources of law do not exist independently of each other.
How did equity develop?
The equity system of law was developed as a measure to address the rigidity of the common law system. Therefore, in its early years, the equity system was largely viewed as being against common law. This means that a majority of modern day law courts apply the two set of rules in their proceedings.
How is the conflict between common law and equity resolved?
It was ruled that, where there is a conflict between the common law and equity, equity will prevail. The conflict was finally put to rest by the setting up Judicature Acts in 1873-75 where the Supreme Court could now administered both rules of common law and equity.
Is equity still relevant today?
Equity continues to evolve. In modern times, the relevance of Equity is evident in new equitable remedies, such as the Anton Piller Orders, Mareva Injuctions and Super Injunctions.
What is procedural Fusion?
Procedural fusion. – administration of common law and euity has been fused. – substantive common law and substantive equity remain separate jurisdiction. So essentially if you had an equitable claim youd only have an equitable remedy, and a. common law claim would only have a common law euity.
Is common law and equity fused?
However, equity and common law have not yet fused and this is clear when we observe the meaning given to fusion by Baker. So this article endorses the intermediate view and the ‘finale’ set by Hanbury and Martin that common law and equity are working more closely together, they are coming closer, but are not yet fused.
