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Legal business has, from the beginning of time, been profitable - to those who have conducted it; because it is concerned with things that touch men's passions very deeply, and because men are willing to pay, and pay highly, for wisdom and skill in the conduct of it. The real merits of the Norman lawyers were, not altruism, but ability, energy, and enthusiasm for their work.

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The invention of writs was really the making of the English Common Law; and the credit of this momentous achievement, which took place chiefly between 1150 and 1250, must be shared between the officials of the royal Chancery, who framed new forms, and the royal judges, who either allowed them or quashed them.

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Perhaps the best testimony to the effectiveness of the reforms of 1852 is the fact, that men of a slightly later generation, familiar with the working of the courts half a century after, find it difficult to believe that such abuses as are plainly described by the legislation of that year, should really have existed in the middle of the nineteenth century.

The fate of the Statute of Uses is one of the most curious in legal history. Its secret and unavowed purpose, of securing the estates of the monasteries for the Crown, it accomplished. Its ostensible purpose, fortified by a wealth of hypocritical justification, it entirely failed to achieve. Not only were devises of lands, after a brief interval, put on a legal footing; but, as is well known, uses of lands as distinguished from legal estates, soon re-appeared in full vigour. Whilst in unforeseen directions, that statute worked havoc in the medieval system of conveyancing; and gradually modernized it out of existence.

We regard an action of Contract as an action to prevent or compensate for a breach of a promise; an action of Tort as an action to to punish or compensate for a wrong, such as assault or defamation, which has not any necessary connection with a promise.

The practice of creating chartered joint-stock companies of a modern type seems to have begun at the commencement of the seventeenth century; and the formation of the East India Company is one of the earliest, if not the very earliest, examples. At first, it appears, the 'joint stock' of the company was separately made up for each ship; perhaps for each voyage. But, in the year 1612 the Company made the momentous resolve to have one joint stock for the whole of its affairs, and thus inaugurated a new epoch. The East India Company, or Companies, (for there were two of them), were followed by the Hudson's Bay Company (1670), the existence of which was recognized by statute in 1707, and by the Bank of England and the notorious South Sea Company.