Final answer:
The statement that 'anything goes, as long as it's fair' is False in relation to the law of equity. This branch of law is based on fairness and justice, but it does not mean that 'anything goes.' Equity looks beyond strict legal rules to provide tailored remedies.
Step-by-step explanation:
The statement that 'anything goes, as long as it's fair' is False in relation to the law of equity. The law of equity is a branch of law that developed in England to provide remedies when the common law system fell short. It is based on principles of fairness and justice, but this does not mean that 'anything goes.' Equity looks beyond strict legal rules to consider the unique circumstances of each case. It aims to provide fair outcomes by exercising judicial discretion. This allows judges to tailor remedies to fit the specific needs of the parties involved. For example, in a case involving a dispute over land, a court of law may only be able to award monetary damages as a remedy. However, a court of equity could order specific performance, which means that the defendant would be required to transfer the land to the plaintiff, if it deems this to be the fair and just outcome.