Common Law & Its System of Precedence

Judges are required to obey statute law: that is, law developed by parliament. when no relevant statute law exists a judge will turn to common-law principles to resolve a dispute. a judge may also use common-law to interpret statute law. if both common & statute law exists, then the statute law must always be followed.
equity differs from common law on the grounds of while common law during the feudal system of England were based on monetary compensation, equity laws provided other remedies such as injunctions & specific performanceswhich kept more in line with the ideal of fairness.
The main principles of equity are:
      to modify a remedy in common law that is deficient, or to create   a new remedy     -to develop remedies for wrongs that the common law does not recognise
equity itself is now a part of common law by courts being instructed to take into account the principles of equity while using common law. therefore they are now part of the common law system. equity is discretionary, its remedies must be applied for promptly, the rights of equity are only to those who courts specify.
Injunction: a court order that requires a person not to do something
Specific Performance: a court order that requires a person to fulfil an obligation they undertook as part of a contract
Discretion: a person making a decision is not bound to follow a certain action
Precedent: a judgement made by a court that establishes a point of law
Ratio Decidendi: a statement by the judge about the reason for their decision. it creates a precedent that lower courts must follow
Obiter Dicta: other statements made by judges, such as their personal opinions. these can be used in the future to justify a ruling
Cross-Examination: where a lawyer for one party in a case asks questions of a witness call by the opposing party
Mediation: where two parties in dispute meet to discuss their concerns through mutual negotiation
The System of...