(a) Explain the term ‘Judicial precedent’ and state two of its advantages. (b) List and briefly explain four of the maxims of Equity. (c) List and explain two reasons that called for the introduction of Equity (d) What was the main challeng

### (a) Judicial Precedent **Judicial Precedent** refers to the legal principle whereby the decisions made by higher courts create binding rules that must be followed by lower courts in subsequent cases that have similar facts. This principle is derived from the Latin phrase "stare decisis," meaning "to stand by things decided." Under this doctrine, once a legal rule has been established by a higher court, it must be adhered to in future cases to ensure consistency and predictability in the law. **Advantages of Judicial Precedent:** 1. **Consistency and Predictability:** Judicial precedent promotes stability in the law by ensuring that similar cases are treated alike. This fosters confidence in the legal system and allows individuals and businesses to make informed decisions based on established legal principles. 2. **Efficiency:** The use of precedents can streamline the legal process as courts can rely on established rulings instead of re-litigating the same issues, leading to faster resolutions of cases. ### (b) Maxims of Equity 1. **Equity Will Not Suffer a Wrong to Be Without a Remedy:** This maxim emphasizes that equitable remedies should be available to address situations where legal remedies (like monetary damages) are insufficient to do justice. 2. **He Who Comes to Equity Must Come with Clean Hands:** This principle asserts that a party seeking equitable relief must not be guilty of wrongdoing in the matter at hand. 3. **Equity Follows the Law:** Although equity provides additional remedies beyond those available in common law, it does not operate completely independently. It respects and follows legal principles unless an injustice would result from doing so. 4. **Delay Defeats Equity:** Equity requires parties to act promptly in seeking a remedy. If a claimant waits too long to assert their claim, they may be barred from relief, as unreasonable delay can undermine the principles of fairness and justice. ### (c) Reasons for the Introduction of Equity 1. **Inflexibility of Common Law:** The common law system often lacked the flexibility needed to deliver justice in cases where strict legal rules would result in an unjust outcome. The introduction of equity allowed for tailored remedies, taking into consideration the unique circumstances of each case. 2. **Limited Legal Remedies:** Common law provided only specific remedies (primarily monetary damages) that could be inadequate for certain wrongs. Equity was established to provide additional remedies, such as injunctions or specific performance, that addressed the needs of individuals more effectively. ### (d) Challenges with the Writ System of Common Law The main challenges with the writ system of common law included its **rigidity and complexity**. The system required plaintiffs to file specific writs to commence legal actions, and if the appropriate writ was not available or the case did not fit neatly into the prescribed categories, individuals could be denied legal recourse. This limitation often led to unfair outcomes, as individuals with legitimate claims could find themselves without a legal remedy due to the inadequacies of the writ system. ### (e) Rights of a Principal 1. **Right to Control:** The principal has the right to control the actions of the agent in the execution of the agreed tasks. This includes directing the agent's performance and setting the scope of their authority. 2. **Right to be Informed:** The principal has the right to receive information from the agent regarding the performance of the task and any relevant developments. This right ensures that the principal can adequately monitor the agent's actions. 3. **Right to Receive Profits:** The principal is generally entitled to any profits or benefits resulting from the agent's actions undertaken on their behalf, unless there is an agreement stating otherwise. This right reflects the principal’s ownership over the outcomes produced from their resources or business transactions.