Equity - subsidiary legislation, Business Law and Ethics

Equity:

Moreover the word "equity" ordinarily means "fairness" or "justice".  In fact as a source of England law there the phrase "doctrines of equity" denotes the body of English law which was developed through the various Lord Chancellors in the Court of Chancery to supplement the rules and procedure of the common law.  However the Lord Chancellors maintained equity mainly according to the effect produced on their own individual conscience through the facts of the particular case before them.

Whereas Equity was developed as a result of the defects of the common law. 

 

Posted Date: 1/16/2013 3:10:26 AM | Location : United States







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