What are common law and equity?
The term common law is confusing as it has a different meaning depending on the context. The term can refer to: (1) the law that is not established by legislation (also known as “statutory law”) but by judges when they decide cases (also referred to as “case law”), (2) the law that is not equity (see below), and (3) the law of countries following the common law tradition such as England and the US (in contrast to e.g. Roman law or French law), and in this sense it includes the whole of the law, including legislation and equity. Equity is the name given to the set of rules which traditionally supplemented common law where its application operated harshly, so as to achieve what is sometimes referred to as “natural justice.” Nowadays, equity has merged with the common law to become a branch of the law, dealing with, notably, trusts and certain remedies such as injunctions.
