Gibraltar Law is modelled on the the Laws of England & Wales, subject to modifications and amendments made to ensure compatibility with the local social, political and economic models.

The common law and the rules of equity from time to time in force in England apply to Gibraltar subject to any modifications or exclusions made by Her Majesty in Council, an act of the UK Parliament or an Act passed by the Gibraltar Parliament. In all causes or matters in which there is any conflict or variance between the common law and the rules of equity with reference to the same subject, the rules of equity prevail. The Act further lists in its schedule the statute law of England which applies to Gibraltar.

Whilst the legal system is based on that of England the statute law has developed differently insofar as the Gibraltar Parliament has enacted and amended laws to suit Gibraltar's own particular requirements. This can be seen in particular areas such as landlord and tenant law as regards the protection of the right of all Gibraltarians to a secure home balanced against the need for the development of Gibraltar as an offshore finance centere. As well as the security of a legal system based on the common law and statute law of England, Gibraltar's lawyers and accountants are trained in the United Kingdom.