Why isn't 'emacs the same as 'emacs here?

Question

This first one should return t but isn't doing so, while the other is returning t. They should be the same.

(defvar list '((binds . 'emacs)))
(eq (cdr (assoc 'binds list)) 'emacs) ;; returns nil

(eq 'emacs 'emacs) ;; returns t

(type-of 'emacs) ;; returns symbol
(type-of (cdr (assoc 'binds list))) ;; Returns cons

What is going on here?

Answer 1

Because

(equal (cdr (assoc 'binds list)) ;; (quote emacs)
       (quote (quote emacs))

i.e. the cdr part returns 'emacs while 'emacs returns just the symbol itself without the quote.