What is the difference between common law and equity?

Common law and equity are two different types of legal systems. Common law is the system of law that is based on precedent, which is the prior decisions of court cases that are used to inform future decisions. This system of law is often referred to as “case law” because the decisions of judges are based on prior cases. Equity is a system of law that is based on fairness rather than precedent. Rather than looking to past decisions, equity looks to what is fair under the current circumstances. In Virginia, the two systems of law are separate and distinct from each other. This means that when a case is brought before a court in Virginia, it is either heard by a judge in common law or by a judge in equity. However, in some cases, a judge may make a ruling that applies both common law and equity. This is done on a case-by-case basis depending on the circumstances of the case. The main difference between common law and equity is that common law relies on precedent while equity does not. Common law is based on the decisions that have been made in the past and equity is based on what is fair in the present circumstances. Equity is often thought of as a more flexible system, since the decision-making process relies more on the current state of affairs rather than the past. Common law can be inflexible since it is bound by the decisions made in the past.

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What is the difference between common law and equity?

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