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Since the judicature act 1873-1875, "equity prevails over common law".

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βˆ™ 2014-04-14 09:52:30
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Q: When common law and equity conflicts what prevails what is the historical reson?
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When law and equity conflict which prevails?

In general, the law prevails over equity unless the circumstances are such that a manifest injustice would result. The maxim at common law is: "Equity follows the law." This means two things. One is that whenever there is an adequate remedy at law, legal relief rather than equitable relief should be provided. The second is that if the law on a subject is explicit, equity does not supersede it. Equity law developed out of a sense of fairness when the law courts could not grant relief that adequately compensated a party for a loss or harm. Since resort was made to equity only when there was no adequate provision in law, the rule became that courts look to the law first, then to equity.


What is the difference between return on total equity and return on common equity?

Total equity and common equity are separate things where there is preference shares are also issued in that case only shares issued to common share holders are included in common equity while in total equity shares issued to preference shareholders are also included.


Advantage of law?

1.citizens get safety. 2.discipline remains in the society. 3.rule of law prevails( equity, supremacy of law)


Difference between common law and equity?

common law also make by artificially and equity make atumetically


Is common stock an equity?

Yes Common stock is an equity of business and refundable by business at the time of liquidation of business.


Differences between common law and equity?

common law also make by artificially and equity make atumetically


The advantages of equity than common law?

equity means fairness or equality


How do you compute a Return on common stockholders equity?

(Net Income - Preferred Stock Dividends) / Average common stockholders' equity


In a corporate balance sheet is common stock considered an asset liability or equity?

Equity.


Where do common shares go on financial statement?

Common share are part of equity of business that's why shown in equity section of balance sheet.


'Equity is irrelevant in the modern world'Discuss?

Equity and common law existed after the norman conquest in 1066


What has been the impact of modern equity on common law?

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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