'Importance of Computer Education'
Equity
Definition of Equity
The term ‘Equity’ is used in various senses, out of many the main four senses in which the term is used are: -
1. Literal senses
2. general senses
3. roman senses
4. English senses.
1. Literal senses:-
Its sole aim may be to do justice to the parties in a case characterized by a configuration of facts unlikely ever to be repeated in reality in the same or similar way.
The literal meaning given to equity is “right” as founded on the laws of the ‘nature’, ‘fairness’ and ‘justice’. This is also the most popular notion about this expression.
So, equity is fairness, or that rule of conduct which in the opinion of a person or class maintaining equity, justice and good conscience ought to be followed by all other person.
2. General senses: -
In the most general sense we call that equity which in human transactions is founded on ‘natural justice’, ‘honesty’ and ‘right’. In this sense it means that one should do to all men as he expects to be done to him. In this way, unkindness and ingratitude or other moral wrongs clearly fall outside the scope of equity.
3. Roman senses: -
The term ‘Equity’ is a derivation from the Roman term ‘acquitas’ which means equalization or leveling-down any arbitrary preferences or denial of justice. ‘Equity’ in the Roman sense means a body of moral principles introduced in the Roman law by praetor which constituted equity by the side of ‘jus civile’. In the earliest period of Roman law the ‘Praetor’ was the supreme judicial Magistrate of Roman Republic.
4. English senses: -
In the time o English, there established two Court namely Common Law Court and Equity Court.
‘Equity’ in English sense means the body of rules formulated and administered by the Court of Chancery to supplement the rules and procedure of the Common Law.
So, equity may be said to be “a portion of natural Justice which, though of such a nature as properly to admit of being Judicially
Definition of Equity
The term ‘Equity’ is used in various senses, out of many the main four senses in which the term is used are: -
1. Literal senses
2. general senses
3. roman senses
4. English senses.
1. Literal senses:-
Its sole aim may be to do justice to the parties in a case characterized by a configuration of facts unlikely ever to be repeated in reality in the same or similar way.
The literal meaning given to equity is “right” as founded on the laws of the ‘nature’, ‘fairness’ and ‘justice’. This is also the most popular notion about this expression.
So, equity is fairness, or that rule of conduct which in the opinion of a person or class maintaining equity, justice and good conscience ought to be followed by all other person.
2. General senses: -
In the most general sense we call that equity which in human transactions is founded on ‘natural justice’, ‘honesty’ and ‘right’. In this sense it means that one should do to all men as he expects to be done to him. In this way, unkindness and ingratitude or other moral wrongs clearly fall outside the scope of equity.
3. Roman senses: -
The term ‘Equity’ is a derivation from the Roman term ‘acquitas’ which means equalization or leveling-down any arbitrary preferences or denial of justice. ‘Equity’ in the Roman sense means a body of moral principles introduced in the Roman law by praetor which constituted equity by the side of ‘jus civile’. In the earliest period of Roman law the ‘Praetor’ was the supreme judicial Magistrate of Roman Republic.
4. English senses: -
In the time o English, there established two Court namely Common Law Court and Equity Court.
‘Equity’ in English sense means the body of rules formulated and administered by the Court of Chancery to supplement the rules and procedure of the Common Law.
So, equity may be said to be “a portion of natural Justice which, though of such a nature as properly to admit of being Judicially