Where a person covenants for valuable consideration to purchase and settlement land upon certain trusts, and subsequently purchases lands of the nature of those covenanted to be purchased and settled.
By implication common law might have come into existence through customs, it however pre supposes that the people will never change their culture — it is a status quo ideology. Person who is suffering from losses must be protected from loss.
They both agree on common intention. When the sum payable on default is merely a pre-estimate of the loss likely to result to the other party on account of the breach, it is called liquidated damages. The purpose of constitutions and constitutional amendments are to ensure that a solution is proffered to all scenarios — practical and theoretical.
Mortgagor has right of redemption. He must be compensated and granted his right is called natural justice. Legal existence of the wife so to say merged into that of her husband, the husband consequently becoming the absolute owner of her money, goods and cattle, things in action and estates.
Since a married woman holds her property separately from her husband, and has no need to invoke this doctrine. Equal equities without legal right: In some agreements, provisions are inserted to the effect that in case of breach the party responsible for breach will have to pay a certain sum to the other party.
It is something different from the subject of the contract and is substituted for it. This Act Equity is gloss on the common law a level that where a debtor bequeaths a legacy to his creditor and it does not appear from the Will that the legacy is meant as a satisfaction of the debt, the creditor shall be entitled to the legacy as well as to the amount of the debt.
If moral value is recognized by the legislature then it becomes legal right. However, it also yielded some bad fruits — bureaucracy, formalism, rigidity and monotony. This would again concur with Sir Holmes Realist theory of law which implies that one would only know what the law is after the court had made its decision.
Contracts are made upon requirements on both under one is interested to have profit while other one is interested in satisfaction of his needs and wants. Some limitations are as follows: The implications of this were that court processes were delayed, only the rich who had time for the cumbersome court processes could take cases to the court, only those with deep knowledge of court process or those with sufficient wherewithal to hire educated lawyers could have access to justice; the poor had no time to go to court since they were also the working class.
Why then did equity evolve to serve as a gloss on common law? The answer depends upon the intention of the parties when they entered into the agreement.
Equity Court construed that the purchased land to fulfill his obligation created by the covenant. One who violates the rights of other cannot claim his right until he fulfills his obligation toward others. Furthermore, common laws are blind to certain legal matters among which we have its inability to recognise the rights of a beneficiary in trust property.
Concentration on form defeats its objectives. The procedures one had to go through became too technical, so much that some were discouraged from litigating, the few that overcame inertia and went to court had their valid cases thrown out because they did not go through the correct process.
Common law was thus against social change and the creation of new laws largely because it was excessively rigid. Natural Justice is based on good consciousness, honesty, equality, truth, uprightness, good faith, fairness, ethics, and morality etc.
It is connected with obligation. In case of negligence or fraud legal property extinct priority right if equitable property comes subsequently. For example, A agrees with B to sell his property for Rs. Unfortunately, the reports about common law judges were not quite encouraging either.
The bureaucracy in the court produced excuses that made the judges always right and allowed them to tamper with normal court processes when they have been bribed.
It does not apply where priority of time in case of equity is determinant factor in relief. Later on when the cases exceeded then King delegated this power of administration of justice on his behalf to the Chief of the House of Commons, named Chancery. This maxim is used where equitable and legal rights conflict and precedence go to legal right.
Law of equity is very different from the common law where equity is more on a study of principles and rules which developed and applied by the Chancery Court. As it is seen before, Common Law was very rigid and inflexible. Although reasonable time period should be given to other party in order to discharge obligations.
A dies making a Will for Rs. Equity Court is a Court established to do what is right, and, consequently, it seems only natural that it should impute to persons an intention to do what is right.
Land can be acquired by lawful means, by operation of law, gift, or inheritance.Illustrate your answer with examples and case law. M/J Variant 1: Equity is merely a gloss over Common Law. Discuss the accuracy of this statement, using cases and examples.
M/J Variant 2: How can we account for the growth in Equity? Assess its relevance to the law today. O/N Variant 1: Equity is a sort of justice, which was emerged in England besides from Common Law, which was the responsibility of the Common Law Courts.
There were many issues, which were not fallen in the jurisdiction of the Common Law Courts. 'Equity was nothing more than a gloss on the common law'. Critically evaluate this statement and assess the past and present contributions. The original role of equity was often as a ‘gloss on the common law’.
Equity might remedy than the common law. Equity might also intervene to ensure that the available CHAPTER 1 GROWTH OF EQUITY AND THE EVOLUTION OF THE TRUST 4.
Essentially, “equity grew interstitially, to fill in the gaps of substantive common law and to provide a broader array of remedies equity thus provided a gloss or appendix to the more structured common law".
Nov 23, · Law of equity is very different from the common law where equity is more on a study of principles and rules which developed and applied by the Chancery Court. It is not a source of law that only uses the literal application as a main rule of equity, yet it is more concerned with the conduct of the parties per se in a particular circumstance.Download