Difference between Common Law and Equity
Key Difference: Common Laws are laws that have come about of been enacted based on court rulings. These laws are developed based on rulings that have been given in older court cases. Common laws are also known as case law or precedent. Equity is a branch of law that was developed as a supplement to the strict statutory laws that may provide too harsh punishments. In layman’s terms, equity is a part of law that decides punishment on the basis of justice and fairness after looking at all aspects of the punishment, including the motive of the accused.