1.8 Substance of common law and doctrine of equity
Common law
Common law developed from customary practices and decisions made by judges, it is often referred to as judge-made law or case law. The decisions of judges, known as precedents, established legal principle.
Principles
- Common law relies heavily on precedent, meaning that earlier court decisions serve as authoritative interpretations of the law.
- It emphasizes consistency and the principle of stare decisis, which means “to stand by things decided.” This principle requires judges to follow the precedents set in higher courts.
Remedies
- Common law provides a wide range of remedies, including damages (monetary compensation), injunctions, and writs (court orders).
- The primary remedy in common law cases is monetary compensation to compensate the injured party for losses or harm suffered.
Characteristics of common law
- Writ System.
- Doctrine of stare decisis
Doctrines of equity
The doctrines of equity developed separately from common law in England. Equity was historically administered by the Court of Chancery, a separate court system from the common law courts.
Equity developed as a response to perceived injustices or gaps in the common law.
Principles
- Equity is characterized by principles of fairness, conscience, and justice.
- Equity allows judges to consider the individual circumstances of a case and to grant remedies that are more equitable or just, rather than strictly adhering to precedent.
Remedies
- Equitable remedies include specific performance (ordering a party to perform a contractual obligation), injunctions (orders to stop or compel certain actions), rescission (cancellation of a contract), and restitution (restoring parties to their original positions).
- These remedies are typically used when monetary compensation is not sufficient to provide a fair remedy.