The
Exchequer of Pleas or
Court of Exchequer was a court that dealt with matters of
equity, a set of legal principles based on
natural law and
common law in
England and Wales. Originally part of the
curia regis, or King's Council, the Exchequer of Pleas split from the
curia during the 1190s, to sit as an independent, central court. The
Court of Chancery's reputation for tardiness and expense resulted in much of its business transferring to the Exchequer. The
Exchequer and
Chancery, with similar jurisdictions, drew closer together over the years, until an argument was made during the 19th century that having two seemingly identical courts was unnecessary. As a result, the Exchequer lost its equity jurisdiction. With the
Judicature Acts, the Exchequer was formally dissolved as a judicial body by an
Order in Council of 16 December 1880.