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Old Friday, April 25, 2014
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Quote:
Originally Posted by komal malik View Post
what is difference between common law and equity?
Common law typically refers to laws that have come about and have been enacted based on court rulings. These laws are developed and based on rulings that have been given in older court cases. Common laws are also known as case law or precedent.

Equity, on the other hand, is a branch of law that was developed as a supplement to the strict statutory laws that may provide too harsh punishments. In layman’s terms, equity is a part of law that decides punishment on the basis of justice and fairness after looking at all aspects of the punishment, including the motive of the accused. Though, equity usually refers to judgments that deal with fairness in justice, often stemming from a sense of natural law.

For their major differences explore below link.

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