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Essay / Research Paper Abstract
The law of equity developed to fill a gap left by common and statute law. The model was on of flexibility in order to be able to deliver equity. This 8 page paper considers how equity law is able to retain some level of flexibility in today’s legal environment despite pressures to formalise and adhere to universal rules. The paper is written with reference to English lat but the arguments could be applied internationally. The bibliography cites 7 sources.
Page Count:
8 pages (~225 words per page)
File: TS14_TElawequit.rtf
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Unformatted sample text from the term paper:
to deal with such varying situations. The approach traditionally adopted by equity has been to retain flexibility so as to accommodate the multitudinous instances in which the fundamental equitable rules
fall to be applied" Burns Philp Trustee Co v Viney [1981]. This is argued to be the approach of equality law, with
the current perception of the role of equity being seen as reflecting this historical difference. However in looking at the way law of equity is now administered we can also
argue that this aspect of flexibility is now being eroded due to the system of common law and the increasingly important influence of statute law and precedent that are reducing
the flexibility. To consider the modern position we need to look at what is meant by equity and how it has developed
to be perceived with the values reflected in the case of Burns Philp Trustee Co v Viney [1981]. Therefore, we will look at the way this has developed to gain
the understanding of the meaning of the quote and how it is applied. Equity in law means fairness. The law of equity
had developed in parallel to common and statute law but is very different. The rules have developed separately from common law, and have traditionally been enforced by the Court of
Chancery (Card et al, 2004). They may be seen as a gloss, meaning that they are a supplement to common law. Looking to the role of equity this is
an area of law that may be seen as filling the holes that the common law left as it developed due to the need to supplement other sources of law.
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