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Free Guide; Equity And Trust Law Essay:

The sense of justice and fairness is known as equity. Equity serves to rectify the law when it is incorrect, or more accurately, equity corrects the common laws. Equity is based on conscience, which is what happens when you consider what is right and wrong. For instance, when a powerful man hits a weak man without any cause, you may feel a sense of justice because you know deep down that the strong person is wrong and you wish to see justice done for the weak man. This is known as the feeling of justice and is based on the natural justice principle. The Court of Chancery created this legislation. Equity law exists to mitigate the unfair effects that the stringent and inflexible common law have on individuals. Justice is ensured by this statute over incorrect rulings.

The Development Of English Common Law And The Creation Of Equity Law;

Common Law's use in the 13th century:

By the middle of the 13th century, common law had been implemented in England. It was composed of both statute and customary law. Customary law was generally accepted by those who followed it, but it was entirely unwritten and extremely flexible.

The Chancellor's Judicial Role's Elevation:

The majority of people were alarmed by the lack of flexibility and solutions provided by statute law, which is why there was no natural justice legislation in place. As a result, people began to request the king, and a custom of referring such requests to the chancellor and the chief of the king's secretaries developed. The chancellor had the authority to impose rules, which the people used to abide by. This gave rise to the chancellor's judicial function, and eventually, a court of Chancery was established in addition to the common law court.

Integration of Chancery and Common Law:

Judicature Acts were the sequence of acts of parliaments started in 1870 which main point is to combine acts hitherto, the Judicature Acts of 1875 and 1873 combines the courts of equity and law into a solo court system, creating a fused justice system where both the principle could apply as one.

Maxim:

A maxim is a phrase that represents common sense or, to put it another way, is the basis of a universal fact that is important to know for legal reasons.

Fair Maxims:

• One must be fair if one desires equity.

• You should come with clean hands to get equity.

• Equity will not suffer a wrong to be without a remedy.

• Delay defeats equity.

• Equity is equality.

• Equity follows the law.

• A delay damages the case.

• Equity considers intent as opposed to form.

• He who seeks equity must do equity.

• Equity acts in personam.

• Where the equities are equal, the first in time prevails.

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