Common Law and Its Types

Common Law Law developed through conclusions of courts and similar committees by the judges is known as common law, it is also known as case law. Common law binds upcoming decisions and it is the body of practice. Common law delivers compensation in monetarist value of the damages due to violation of contract and approves the legal owner of the property. Certain amount of money presented as compensation by a court for a breach or trot of agreement is known as damages, it is also famous as lump sum. In every case fails the common principle is that the opponent is eligible up to complete compensation. For the claiming of the significant harms the innocent party must be capable to ascertain that he has suffered real loss otherwise he will be only authorized to nominal compensations with the effective cause of action. To minimize the damage the innocent party must take responsible steps according to common law. The figure of damages is analyzed based on the expected cost of resuming the complainant in the same situation they would be if the respondent had not employed in that conduct. But damage to environment, specific species or pollution cannot be quantified in monetary value so that common law cannot be used to protect them. For non-pecuniary losses such as loss of enjoyment and mental distress damages are not awarded. Common law opposed rigidity throughout the thirteenth and fourteenth centuries. Common law criticized rigid as before and causes normally arose where the gathering mistreated could achieve no redress under the surviving law and modes of procedure.

Equity
According to law, equity means the rules, which have been developed to ease the severity of the common law. The word “equity” means fair and it created new rights by giving beneficiaries rights against trustees by recognizing trusts. It offers a wide range of remedies than common law. It recognized trusts of property and might issue restrictions, orders to stop or do something. It can force