Doctrines of Equity Flashcards
What do the Maxims of Equity Represent
They are the basic rules which govern equitable relief
What is the First Maxim of Equity
Looking upon that as done which ought to have been done
What is the Second Maxim of Equity
Those who come into equity must come in with clean hands
What is the Third Maxim of Equity
Those seeking equity must do equity
Define Subrogation
where court substitutes one party for another in order to assert a
legal claim. (Ex: SGI in SK will represent you in certain accidents)
Define Equitable conversion
(a type of specific performance) – if a contract for the
sale of land is incomplete, the Court is able to force the vendor (seller) to
continue with the transaction and transfer the land.
Define Contribution
if complete payment by one person relieves others from the
principle obligation, the others are obliged to contribute their share to that
person. ( if you pay for all of the rent, your room mate still owes you half)
Define Waiver and the three types
Expressed Waiver-expressly waive a right you have
Implied waiver-implied waive of a right through conduct or lack of conduct
Waiver by silence - most of the time it is what was failed to be done
Define Marshalling of Assets
two or more secured creditors of a single debtor where
one creditor can enforce its claim against more than one asset and the other can
only enforce against one asset.
Define Relief Against Forfeiture of Penalties
where Court considers the effect of a
breach of contract on the fairness between the parties. (Penalties are disproportional to breach)
Define Laches and Acquiescence
Acquiescence is the implied acceptance or consent to someone’s actions through silence or inaction, where the party knowingly fails to object.
Laches is a legal doctrine where a claim is barred because of an unreasonable delay in asserting rights, which causes prejudice to the other party.
Define Unjust Enrichment
– if a plaintiff proves that:
(i) the defendant was enriched;
(ii) plaintiff was correspondingly deprived;
(iii) there is no juristic reason for the enrichment, then the Court may find
unjust enrichment, and impose some kind of remedy as between the
parties for the unjust enrichment
