Equitable Maxims Flashcards
Equity follows the law
Equity operates within the frameworks of the existing legal system
Equity will permit no wrong without a remedy
Equity aims to provide a remedy for every legal wrong
Where equities are equal, the law prevails
Woks alongside the existing legal framework but acknowledges the limitations
Where equities are equal, the first in time prevails
The claim that arose first takes priority
He who seeks equity must do equity
If you seek equitable relief you must fulfill your own obligations and act equitably yourself
He who comes to equity must come with clean hands
Must act in good faith and with no wrong doing
Delay defeats equity
Act promptly with no undue delay
Equity abhors a vacuum
Against principle for piece of property to have no owner, court will assign the property to somebody
Equity looks to substance not form
Looks beyond technicalities and formalities to focus on the substance of the case
Equity will not permit a statute to be used as an instrument of fraud
Will intervene if party uses statutes to cover for fraud
Equity imputes an intention to fulfil an obligation
Equity looks at substance of parties actions and intentions rather than strict adherence to letter of obligation
Equity regards as done that which ought to be done
Allows court to treat an act as it had been performed in the manner it should have
Equity acts in personam
Acts against individuals not property. Personal responsibility and obligation of parties involved
Equality is equity
Equality strives to restore balance and fairness by equalising rights
Equity will not allow a trust to fail for want of a trustee
Won’t allow a trust to become invalid because of absence of trustee, will ensure trust continues and purpose is fulfilled
Equity will not assist a volunteer
Does not provide assistance or remedies to individuals who have provided no consideration for the benefit they seek
Equity will not perfect an imperfect gift
Equity will not intervene to perfect a gift if the donor has not fulfilled all the necessary legal formalities