History of Equity

Equity & Trust

-          Role of Equity in the creation and development of trust

-          Aspect of Equity that is relevant to trust, the concept of; maxims, doctrine, and remedies

Lord Chancellor is the founder of equity which later produces Trust.

King William the 1^st is the 1^st King that unites the English Island. Thus, from different law, the entire districts now were administered by the same law which is called COMMON LAW.

Problems of Common Law:-

1.       Jury System

-          Jury easily intimidated

-          Jury are corruptible

-          Bias 

2.       Writs

-          Expensive

-          Limited writs. I.E: One may sue someone under negligence but if they want to sue under nuisance there is no specific writs for nuisance. So that what is meant by limited writs

3.       Stare Decisis (Judicial Precedent)

-          This precedent has made the law to be rigid.

4.       King is abroad

5.       Remedies

-          The only remedy that is available at that point of time is damages ($). But people didn’t want money. The appreciate land rather than money. Other than that sometimes they want injunction, specific performance and etc.

As a conclusion, the public does not satisfy with the law.

So the Lord Chancellor who sits in the office called Chancellery decided to overcome the weaknesses of the CL.

Among the actions of the LC to overcome the CL problem he has decided to;

-          Remove the jury system

-          Make Writs Cheap

-          Create more types of writs

-          Provide wide range of remedies.

 Who is the Lord Chancellor?

LC is a very powerful man. He is the second man in a state.

LC is a person that is powerful, he’s an English, religious (Catholic) and was a CL Judge.

Problem of Equity:-

The problem with equity is that it’s being judge using the conscience of the LC and the conscience of the CL is based on the criteria mentioned above.

So the king has decided to implement the Judicature Act 1873. Base on the act it is said that Common Law and Equity has been fuse.

Common Law + Equity = Judicature Act 1873

High Court

King’s Bench

Queen’s Bench

Chancellery

 

                   

 

                                                                     Common Law + Equity

·         When there’s a conflict between CL & EQ, EQ will prevail