BUSINESS LAW

1789 WD

Common law and equity: the reasons behind the creation of equity. What is it and how is it different from common law? What is the present relationship between common law and equity?

Methodology

In order to provide a broader image of the principles applied by equity and the common law, secondary research was carried out. The process involved both gathering information from the internet websites and Business Law textbooks.

Findings

The development of English legal system goes back in the history to the year 1066 and the Battle of Hastings. Before this date it can be admitted that there was no body known as English Law. However, after the invasion of William the Conqueror, the Normans due to their exceptional administration skills enabled the English law evolution and gave the way to the centralization process (Origins and development of English law, 2009). Moreover, the law established a better link between the king and the people and according to the views of state it was crucial (Law and the state, 2009).