Questions On The Word Equity

Better Essays

The word equity has numerous meanings and to various people it is a symbol of fairness or justice. The origin of equity can be traced to the deficiencies of the common law. Beyond question, common law had flaws where any solution is unavailable or where there was an availability of a remedy but it was not fit for the plaintiff loss. Moreover, the common law was studded with formality. If two parties engage in a verbal contract in case of common law, common law under no circumstances will spot the contract not provide any remedy to it. This was one of the major flaws because whatever be the circumstances. In many cases equity stepped up and provided remedies irrespective of the fact that there was a lack of formality. The main …show more content…

Over the last 50 years there has been immense change in the law of equity. This can be well justified by the maxim, for example, ‘where the equities are same, the first in time happens’, and the impact on happenings, as well as interest which are conflicting in nature and the maxim ‘ equity behave in personam’ its impact on the working of the law outside the judgement. The whole structure has been implemented with the aim of providing maximum benefit. The statement ‘ flexible when law appears to be dominant, discretionary when law appears to be obligatory and humane in its concern for justice rather than rights clearly signifies the development of equity over the past 50 years. As a matter of fact, equity entails discretionary features both in terms of application and even its extent which have a deep impact on the issue related to domestic, as well as international law . By and by equitable principles came out as a support to the Roman, as well as English common law which are done in order to enhance or correct the body of civil law.
The maxim of equity can be well described from the statement and the well defined principles which are laid down so as to control the manner of the operation of the equity principles. This helps to project the features of equity and in particular contrary to the common law which has a flexible nature, impactful considering the need of the particular person and more focussed to

Get Access