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The impact of modern equity on common law is if you have it, spend it. For the people that are better off, the modern equity states to spend the money you do have to keep the economy going.

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βˆ™ 2014-08-22 06:37:45
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Q: What has been the impact of modern equity on common law?
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Definition and background of common law?

Common law is the system of deciding cases that originated in England and which was latter adopted in the U.S.. Common law is based on precedent (legal principles developed in earlier case law) instead of statutory laws. It is the traditional law of an area or region created by judges when deciding individual disputes or cases. Common law changes over time. The U.S. is a common law country. In all states except Louisiana, which is based on Napoleonic code, the common law of England was adopted as the general law of the state, or varied by statute. Today almost all common law has been enacted into statutes with modern variations by all the states. Broad areas of the law, such as property, contracts and torts are traditionally part of the common law. Because these areas of the law are mostly within the jurisdiction of the states, state courts are the main source of common law. The area of federal common law is primarily limited to federal issues that have not been addressed by a statute. See below link:


What is the meaning of common law?

The common law system refers to laws that have been developed by judges. Their decisions go through court decisions, instead of the legislative process.


Difference between common law and statute law?

Statute law refers to the laws that have been passed by the legislature and have been written down and 'codified' for use. Common law refers to the laws that are more or less "that's the way it has always been done." Common law relies upon the body of history and prior cases to establish what the rules are, one of the reasons lawyers study past cases so much. Some states have not codified murder, as the common law definition is more than adequate.


Where did common law originate?

Common law originated in the early Middle Ages in the King's Court. It only included procedural remedies - substantive rights have been added over time.


Is common law the body of law?

"Common law" had been the body of the law prior to the advent of legislative bodies such as Parliament in England, Congress in the United States and the legislatures in the states. The only state that does not follow English common law is Louisiana, which follows the French civil law. At present, statutory law constitutes the main body of the law.

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Define the term of common law and equity?

Common law is the system of deciding cases that originated in England and which was latter adopted in the U.S.. Common law is based on precedent (legal principles developed in earlier case law) instead of statutory laws. It is the traditional law of an area or region created by judges when deciding individual disputes or cases. Common law changes over time.The U.S. is a common law country. In all states except Louisiana, which is based on Napoleonic code, the common law of England was adopted as the general law of the state, or varied by statute. Today almost all common law has been enacted into statutes with modern variations by all the states. Broad areas of the law, such as property, contracts and torts are traditionally part of the common law. Because these areas of the law are mostly within the jurisdiction of the states, state courts are the main source of common law. The area of federal common law is primarily limited to federal issues that have not been addressed by a statute.The word Equity has the following meanings:The body of principles constituting what is fair and right or the natural lawIt could refer to fairness, impartiality or evenhanded dealing. For example as per the company policies managers should use equity in dealing with subordinate employees.The principles of justice used to correct or supplement the law as applied to particular circumstances. For example the judge decided the case by equity because the statute did not fully address the issue. In this sense it is also termed natural equityThe system of law or body of principles which originated in the English court of Chancery, which superseded the common law and statute law when there was a conflict between the two.A right, interest or remedy recognizable by a Court of equityThe right to decide matters in equity or equity jurisdiction.An ownership interest in the property especially a business. For example A gave her equity in the business to B.A share in a publicly traded company. For example A did not want to cash in his equity


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Egyptians invented papyrus, which is what they used as paper. So if they wouldn't have had invented it we wouldn't have been using actual paper now.


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You can apply for an equity credit line mortgage as soon as you take title- when the deed has been recorded in the land records.


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What services does Equity Insurance Solutions provide?

Equity Insurance Solutions is an insurance agency that provides individuals with personal insurance. They have been in business since 2002 and has protection for over thousands of users.


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