Sripetch v. SEC · ¶52

History informs the distinction between law and equity. At the founding, courts were principally divided into common-law courts and equity courts.Common-law courts could “entertain suits only in a prescribed form, and they [could] give a general judgment only in the prescribed form.” 1 J. Story, Equity Jurisprudence § 27 (13th ed. 1886) (Story). Equity courts, by contrast, could “give relief in extraordi nary cases, which are exceptions to general rules.” The Federalist No. 83, p. 505 (C. Rossiter ed. 1961) (A. Hamilton) (some emphasis deleted; footnote omitted).

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