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1944 Ann. Surv. Am. L. 808 (1944)
Equity

handle is hein.journals/annam1944 and id is 890 raw text is: EQUITY WILLIAM F. WALSH QUITY has led the way in every important development in the . law since its establishment in the fifteenth century, in contract, fraud and deceit, assignability of choses in action and quasi-contract, to mention only the more important of these developments.' It has been said that equity has fulfilled its function in the law's growth, and therefore corresponding reforms through equitable action' are not to be expected The most important development of law in modern times has been 'the merger of law and equity unddr the codes in most of the states, and recently established in the federal courts. The result is that the corrective and reformative powers of equity as the spiritual or ethical principle of the law tire now an inseverable part of our legal system, and'advances of the greatest importance have been made in the extension of specific or equitable relief, notably in specific performance of contract, equitable pro- tection of business rights, of public rights and the development bf the law involving labor and capital.' It is not easy to recognize important developments in the cases of any one year. But the trends toward expanding the specific relief of equity at the expense of the old form of substitutional relief of damages at law may readily be found in the cases decided in 1944. The great mass of the cases turn on simple application of long-established rules which are omitted as requiring no comment. The' cases are still numerous in which ignorance of legal history and of the character and effects of code merger are all too manifest. Legal education dn these funda- mentals can alone correct these faults. Greater concentration on the essentials rather than diffusion in attempts to accomplish the impossi- ble by covering the many new forms of so-called law which are de- WILLIAM F. WALSH is Professor of Law, Emeritus, New York University School of Law. 1 Walsh, Equity in the Development of the Law, 3 A Century of Progress (1935) p. 139 et seq. 2See Equity, Introduction, 1942 Annual Surv. Am. L. p. 616. Walsh, ibid., note 1 supra, at 155 et seq., 165-173, 174-180. 808 Imaged with the Permission of N.Y.U. Annual Survey of American Law

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