Equity and Trusts Law

Contents:

• Historical Background of Equity and Trusts law,
• Equity  Versus  Common Law,
• Effects of Equity  on Legal Certainty, 
• Traditional role of Equity and Trusts Law,
• Literature Review

Introduction

The law in the United Kingdom is mainly described as a body of rules either which have evolved over a long time throughcourt judgements or that which is clearly defined by legislation. However, there is another source of law referred to as Equity. The source of law developed through court judgements or what is commonly known as judicial precedents is generally known as Common Law. Equity law was developed so as to mitigate the harshness of common law. Both common Law and Equity developed separately, while common law was strict in nature, equity came to mitigate the strictness and offer a solution that would ensure the attainment of justice for all. There have been many definitions of Equity and what it entails. For instance, Maitland defines Equity as the body of laws which are administered

by the English Courts of Justice in that is the judicature Acts had not been in operation, they would have been administered by the Courts of Equity.