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Essay / Equity - 1877
Through the merger of equity and common law, we can see that equity has this aspect of flexibility that it offers to common law. This idea of flexibility is beneficial because common law is based on a rigid system where actions are framed by a system of rules and judgments, equity then offers an aspect of flexibility to this rigid common law system. Through the evolution of equity, we see that people are gaining equitable interests as well as legal interests, particularly in relation to property and trusts. Legal interests are the rights given to us by common law, while equitable rights are not specific rules of law, they depend on a set of discretionary rules called maxims. This fusion of equity and common law allows us: The common man has various ways of obtaining remedies. Through the merger of Equity and Common Law, the number and types of remedies have increased as well as the possibility of the common man obtaining remedies. Through the amalgamation of common law and equity, we can see that the remedial and procedural aspect of it has been affected in relation to various aspects of law. This idea can be better seen through the use of an example and in this example we will use mortgages, through this example we will see the different procedural and remedial aspects of the marriage of equity and common law. If we see, the common law treats mortgages as contracts; here, any failure to repay the mortgage on the stipulated date would result in forfeiture of the mortgaged property in favor of the lender. This can be done through the common law doctrine of forfeiture. From an equity perspective, if we look at the idea of redemption equity, we can see that it reduces the harshness of the law by restricting the...... middle of paper ..... . also gives us the idea of trusts, undoubtedly one of his greatest contributions thanks to which we can further develop new ways of responding to the new circumstances of the legal world. Through this critical essay, we have also examined the perspective of a prominent scholar who supports the vision of common law integration and equity. This critical essay also compared and contrasted cases which helped my idea of developing new remedial measures for the future. As this is a critical essay, we have also examined the negative views on the effect of integration on the idea of developing measures to combat new circumstances, one of its major points among many others is that the fusion of equity and common law brings an aspect of inconsistency which hinders the ability of judges to develop new correctives and devices to respond to new circumstances.