'The main body of rules and principles of Indian law is an adaptation of English law'. Discuss the various sources of English Law.

The main body of rules and principles of Indian law is an adaptation of English law. Following are the main sources of English law: The chief sources of English law are: Common Law: The common law, in this context is the name given to those principles of law evolved by the judges in making decisions on cases that are brought before them. These principles have been built up over many years so as to form a complete statement of the law in particular areas. Thus, common law denotes that body of legal rules, the primary sources of which were the general immemorial customs, judicial decisions and text books on Jurisprudence. Common law is unwritten law of England which is common to the whole of the realm. Law Merchant: The law merchant is the most important source of the mercantile law. Law merchant means those customs and usages which are binding on traders in their dealings with each other. But before a custom can have a binding force of law, it must be shown that such a custom is ancient, general, as well as commands universal compliance. In all other cases, a custom has to be proved by the party claiming it. Principle of Equity: Equity is a body of rules, the primary source of which was neither custom nor written law, but the imperative dictates of conscience and which had been set forth and developed in the Courts of Chancery. The procedure of Common Law Courts was very technical and dilatory. Action at common law could be commenced by first obtaining a writ or a process. The writs were limited in number and unless a person was able to bring his case within one of those writs, no action could lie at common law. In some cases, there was no remedy or inadequate remedy at common law. The King was considered as the fountain head of justice; when people were dissatisfied or aggrieved with the decision of the Common Law Court, they could always file a mercy petition with the King-in-Council. The King would refer these petitions to his Chancellor. The Chancellor, who was usually a Bishop, would dispose of these petitions not according to the rigid letter of the law but according to his own dictates of common sense, natural justice and good conscience. The law so administered by the Chancellor came to be known as 'equity' and such courts as 'Equity Courts'. These 'Equity Courts' acted on number of maxims, meaning of few is as under: "He who seeks equity must do equity", "He who comes to equity must come with clean hands". The Equity Courts had their separate existence from the Common Law Courts in England until the passing of the Judicature Act of 1873, when the separate existence of such courts was abolished and all High Courts were empowered to grant either or both the remedies (common law as well as equity) according to the circumstances of each case. Some of the important principles and remedies developed by Equity Courts are recognition of the right of beneficiary to trust property, remedy of specific performance of contracts, equity of redemption in case of mortgages etc. Statute Law: Statute law is that portion of law which is derived from the legislation or enactment of Parliament or the subordinate and delegated legislative bodies. It is now a very important source of Law. A written or statute law overrides unwritten law, i.e., both common law and equity. Some of the important enactments in the domain of mercantile law are: The English Partnership Act, 1890, The English Sale of Goods Act, 1893, Bankruptcy Act, 1914, Carriers Act, 1830, The English Companies Act, 1948 etc.