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This can be looked at from two angles: administrative and substantive.The Judicature Acts brought the common law and equity under one roof and fused the two legal systems administratively, but whether it has fused the substance of the two legal systems is subject to debate.The population was not ruled by a single monarch, transport and communications were available to very few and no law books were available, however, the population was very small at this time, therefore meaning it was not required as much as nowadays.
If the trustee breaches any of his obligations, he will rely on personal right to sue him. AG Sir John Duke Coleridge said: ‘The defect of our legal system was.. would be administered concurrently’ Tinsley v Milligan is an example of substantive fusion of law and equity: There was a difference in the wat in whichi common law and equity dealt with that situation.
If it is about tracing the proceeds of a trust property, he will rely on proprietary rights (they are enforceable against the world). that if a man went for relief to a Court of Law, and an equitable claim or an equitable defence arose, he must go to some other Court and begin afresh. HL said that the same approach should apply to circumstances of illegality whether your claim is for common law property right or equitable property right.
Extensions of equity are constantly being brought before the attention of the House of Lords, enabling equity to continue to grow.
A few lines about the history of equity and common law (Court of Chancery etc). 283 (HC), an equitable remedy (specific performance) was refused because the court believed that the seller, who had a leg amputated and was relying on help from friends, would lose the help if she was forced to move.
The Courts of Common Law developed law of torts, whereas the Court of Chancery developed ‘equity’.
Court of equity was a court of conscience: the rulings were based not on formal rules of evidence but on the replies of the defendants to the interrogation.
Even though many remedies have been through equity the Courts are prepared to extend these remedies.
The principle that they are all discretionary still remains 9.0 Conclusion Equity has already seen many changes and new areas of law have been developed, however equity and its laws are constantly reviewed and new areas are still being developed.
The legal owner is entitled to claim the dividends of the company shares, an equitable owner is entitled to the monies equivalent to the dividends.
Because the legal owner is the sole owner and has the beneficial interest, it doesn’t mean that he has an equitable title too: he is not holding it on trust for anyone.