Sripetch v. SEC · ¶53
Equity courts thus provided different remedies from law courts. The “essential characteristic of Equity procedure . . . is that it begins with a petition . . . to secure justice where it would not be secured by the ordinary and existing processes of law.” G. Adams, The Origin of English Equity, 16 Colum. L. Rev. 87, 91 (1916); see also L. Smith, Common Law and Equity in R3RUE, 68 Wash. & Lee L. Rev. 1185, 1195 (2011) (describing the core use of equity as a “case where the plaintiff has a legal right and yet goes to Equity for some remedy that the common law cannot provide”). So, for example, common-law courts could find a breach of contract and provide the general legal remedy to the harmed party, “damages for the breach.” 1 Story § 30. But, when traditional legal remedies would be inadequate, equity courts could provide more exceptional relief to maintain the status quo or ensure…Read in context ›
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