what are the similarities and differences between common law and equity?

Answer 1

They can be interchangeable, depending on the situation. Common law is just case law. A case made in equity is based on the fairness of the situation, rather than language of the contract or a statute.

Answer 2

Equity law is a form of corrective justice developed by the Lord Chancellor when the common law was too procedurally hide bound for people to get a remedy in civil disputes without it costing an extortionate amount of money. They fused after the judicature acts, so now equity is generally agreed to be a group of principles and maxims that are applied when it would be unconscionable not to do so. Check Alastair Hudson's Equity and Trusts book or his podcasts on the internet!

Answer 3

Originally, common law was customary law, folk law, based on precedent. There was of course statutory law -- the king's law -- but common law guided how it was enforced and administered. No real common law exists today, having been entirely codified as statutory law throughout the English-speaking world. There remain, however, what are sometimes termed common law rights.

Now and again, a new situation arises where there is no law to guide a judge, but where there really is something to adjudicate. One case I recall (from the 70?) involved a common law right to sunshine for solar panels; a homeowner had installed such panels, but a neighbor subsequently built a fence or structure which blocked the sun's rays. The guy was adjudged to have a common law right to the sunshine, more or less on old common law water-rights law and the neighbor lost. This particular case involved equity as well.

Equity came into play when there was no precedent for the case at hand. This happens even today. If there is something for the court to adjudicate, but no guiding precedent or statute to guide how the case is to be decided, the judge (perhaps through a jury) creates a new precedent based on what is fair and equitable. This is a very common sense legal doctrine.

Answer 4

i can`t think whats similar, the difference is equity is to do with investing and common law is a peoples law

Answer 5

adumbrate with cogent reasons the relationship between common law and law of equity

Answer 6

What does one have to do with the other?
Sounds like apples and spagetti to me.

Answer 7

Are there any similarities ??