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Maxims of equity are legal maxims that serve as a set of general principles or rules which are said to govern the way in which equity operates. They tend to illustrate the qualities of equity, in contrast to the common law, as a more flexible, responsive approach to the needs of the individual, inclined to take into account the parties' conduct and worthiness.
Earl of Oxford's case (1615) 21 ER 485 is a foundational case for the common law world, that held equity (equitable principle) takes precedence over the common law.. The Lord Chancellor held: "The Cause why there is Chancery is, for that Mens Actions are so divers[e] and infinite, that it is impossible to make any general Law which may aptly meet with every particular Act, and not fail in some ...
Walsh v Lonsdale (1882) 21 Ch D 9 is an English property law case about the effect of the Judicature Acts.It is the authority for the equitable maxim that "Equity regards as done that which ought to be done".
A legal maxim is an established principle or proposition of law, and a species of aphorism and general maxim.The word is apparently a variant of the Latin maxima, but this latter word is not found in extant texts of Roman law with any denotation exactly analogous to that of a legal maxim in the Medieval or modern definition, but the treatises of many of the Roman jurists on regular ...
Conceptually, equity was part of the historical origins of the system of common law of England, [2] yet is a field of law separate from common law, because equity has its own unique rules and principles, and was administered by courts of equity. [2] Equity exists in domestic law, both in civil law and in common law systems, and in international ...
Equity is a roguish thing: for law we have a measure, know what to trust to; equity is according to the conscience of him that is Chancellor, and as that is larger or narrower, so is equity. ‘Tis all one, as if they should make his foot the standard for the measure we call a Chancellor's foot; what an uncertain measure would this be!
Principia Legis et Æquitatis was a collection of maxims, definitions, and remarkable sayings about law and equity, mostly in Latin, presented in alphabetical order. Several editions were published, including an enlarged fifth edition of 1822, which gave translations of the Latin, and an American edition of 1824. [ 4 ]
In this context, "common law" means the judge-made law of the King's Bench; whereas equity is the judge-made law of the (now-defunct) Court of Chancery. [15] Equity is concerned mainly with trusts and equitable remedies. Equity generally operates in accordance with the principles known as the "maxims of equity". [h]