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EQUITY NOTES
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DETAILED in depth notes of the chapter equity in legal studies. with bullet points so easy to remember and easy to use as revision notes covering the entire lecture
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Equity and Its Development:Limited Range of Remedies at Common Law:
At common law, litigants had access to a limited set of remedies, primarily
centred around damages or compensation.
Notably, some critical rights, like those vested in beneficiaries under a trust,
were not recognized or adequately addressed by common law remedies.
Perceived Mechanical Nature of Common Law:
Common law was perceived as rigid and mechanistic, lacking the flexibility to
address nuanced situations.
Equity, in contrast, offered a more discretionary approach, examining the
fairness of the remedy sought and considering the behaviour of the parties
involved.
History of Equity:
Origins of Equity:
The Chancellor advised the King on matters requiring equitable solutions,
functioning as the 'keeper of the King's conscience.'
The early Chancellor issued decrees personally, contributing to the evolution
of Equity as a separate jurisdiction alongside common law.
Early Development of Equity (1272-1474):
During this period, Equity emerged as a distinct legal realm, running parallel
to the common law system.
The Chancellor, evolving from a civil service role, began issuing decrees aimed
at overcoming the inadequacies of the common law, recognizing new rights,
granting new remedies (such as injunctions), and introducing innovative legal
procedures.
conflict between Courts:
As the functions of the Chancery Court became more formalized, conflicts
with common law courts intensified.
The pivotal Earl of Oxford’s Case (1615) established the precedent that, in
case of a conflict between available remedies, Equity would prevail over
common law.
Age of Legalism (1869):
By 1869, both common law and equitable jurisdictions were perceived as
inefficient, corrupt, and prone to delays.
The Royal Commission recommended a comprehensive reform, leading to
the 1873-1875 Supreme Court of Judicature Acts, establishing a new High
Court of Justice and a Court of Appeal.
Equitable Rights
1) trusts:
Equity recognized and enforced rights that common law did not,
especially those of beneficiaries under a trust.
The equitable interest in trusts was grounded in a beneficial title, distinct
from the legal title.
2) Mortgages and Equity of Redemption:
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