Equity

Question 1

What are the equitable remedies

Answer 1

Injunction, reformation, specific performance, rescission, and restitution

Question 2

Equity jurisdiction

Answer 2

Legal jurisdiction and equitable jurisdiction are concurrent

Question 3

Power of contempt

Answer 3

Fine or jail

Question 4

Requirement for Equitable Remedy

Answer 4

Equitable remedy are only available when damages would not provide a full and adequate remedy.

Question 5

When do legal remedies fail

Answer 5

(1) property is unique (2) would require new lawsuit for each harm (3) defendant is obligated to perform under a contract and is insolvent (4) speculative/uncertain damages (5) cannot compensate for harm

Question 6

What are the limits of equitable relief

Answer 6

(1) impracticability (2) violates public policy/constitution (3) interferes with another sovereignty (4) contracts for personal services (5) only protects property rights but there are exceptions

Question 7

Mandatory injunction

Answer 7

Orders a defendant to do something specific. Not granted upon a preliminary hearing except in cases of strong and imperious necessity

Question 8

Preventive/Prohibitory Injunction

Answer 8

Orders a defendant NOT to do something specific

Question 9

Requirements for a temporary injunction

Answer 9

(1) no adequate remedy at law (2) likely to succeed on the merits (3) without a temporary injunction there will be irreparable harm (4) balance of equities tip in their favor (5) in the public interest

Question 10

Permanent injunction

Answer 10

Injunction of indefinite duration, entered at the end of the proceedings

Question 11

How long to appeal

Answer 11

15 days

Question 12

What is a governmental injunction

Answer 12

(1) mandamus (2) writ of prohibition

Question 13

When is a criminal injunction appropriate

Answer 13

(1) multiple ongoing prosecutions (2) harassing and vexatious prosecutions

Question 14

Property injunctions

Answer 14

(1) waste, especially voluntary waste, less common in permissible waste (2) nuisance (3) trespass if (a) continuous (b) repeated (c) encroachment, if done in bad faith (4) covenants (5) title/regaining possession

Question 15

Public nuisance

Answer 15

Unreasonable interference with health, safety, or peace of the public

Question 16

Covenants not to compete

Answer 16

A contractual agreement that the defendant will not compete with the plaintiff’s business. VA is slanted against enforcement of non competes, except in selling a business

Question 17

How to get enforcement of non compete

Answer 17

(1) reasonable from employer’s perspective, only as restrictive as necessary to protect business interests (2) reasonable from perspective of employee, not unduly harsh/oppressive in ability to earn living (3) reasonable from

Question 18

Considerations for non compete

Answer 18

(1) geographic scope (2) duration (3) function

Question 19

How courts enforce non competes

Answer 19

All or nothing, blue pencil provision (line strike) makes the entire contract unenforceable

Question 20

Uniform Trade Secrets Act

Answer 20

A trade secret is any information, including any formula, program, method, etc. that derives independent economic value from not being known and they work to keep it a secr

Question 21

Requirements for specific performance

Answer 21

(1) a valid contract existed (2) all conditions for defendant’s performance have been fulfilled (3) plaintiff has performed, will perform, or performance is excused (4) fair and feasible

Question 22

Mutuality of Remedy

Answer 22

Not recognized by VA, specific performance must be available to both parties

Question 23

Contracts for sale of land

Answer 23

Specific performance is almost always available to the buyer; seller can also get specific performance of purchase price

Question 24

Contracts for the sale of goods

Answer 24

No specific performance UNLESS (1) unique goods (2) unavailable anywhere else but from that seller

Question 25

Contract for stock in a corporation

Answer 25

Specific performance may be available for a private corporation, not available if a public corp

Question 26

Personal services

Answer 26

Generally not available

Question 27

Contracts to make a will

Answer 27

Specific performance not available, but can get a deed of trust

Question 28

Uniform Computer Information Transactions Act

Answer 28

Agreement or performance agreement to license computer information, specific performance if (1) contract provides for (2) not personal services and unique (3) other appropriate circumstances

Question 29

What do VA courts consider when deciding whether specific performance would be fair

Answer 29

(1) is consideration adequate (2) would performance impose hardship on the defendant (3) plaintiff engaged in sharp dealing or practices

Question 30

Equitable Conversion

Answer 30

Seller holds title until closing, buyer holds equitable rights. Both parties have an equitable lien. Buyer bears the risk of loss during that period, burden of keeping insurance rests with the buyer unless contract says otherwise.

Question 31

Effect of Death on Equitable Conversion

Answer 31

If seller dies before closing, seller's interest is personal property, buyer's interest is real property

Question 32

Reformation

Answer 32

(1) writing (2) failure to reflect the grantor's intent or the true agreement of the parties (3) mutual mistake/fraud clear and convincing evidence

Question 33

Statutory grounds for rescission

Answer 33

Fraud, buyer in a contract for sale of goods wrongfully rejects or fails to make payment

Question 34

Equitable grounds for rescission

Answer 34

Fraud, undue influence, mutual mistake

Question 35

Define restitution

Answer 35

Defendant must return property to defendant or give money to plaintiff based on the value of the property - looks to what defendant would gain

Question 36

Specific restitution

Answer 36

Defendant has a specific item of property and court orders that they restore the property to the plaintiff

Question 37

Constructive Trust

Answer 37

Remedies unjust, unconscionable action by the defendant. If transferred to GFP, profits from that sale were held in constructive trust

Question 38

Equitable Lien

Answer 38

Imposed by court onto defendant on defendant's property

Question 39

Subrogation

Answer 39

Allows a third party to assume someone's rights (common with insurance companies). VA Code says that if an insurer pays the insured, the insurer has the ability to enforce the legal liability.

Question 40

Equitable Accounting

Question 41

Equitable defenses

Answer 41

(1) laches (2) unclean hands (3) undue hardship (4) aquiescence (5)

Question 42

Laches

Answer 42

Plaintiff's unreasonable delay in bringing the claim that would prejudice the defendant. Standard is reasonableness and operates separately from SoL

Question 43

Unclean Hands

Answer 43

Bad conduct must have operated to prejudice of defendant

Question 44

Balancing of equities

Answer 44

D shows that granting equitable relief for P will cause more harm than granting relief

Question 45

Acquiescence

Answer 45

Acquiesced

Question 46

Equitable Estoppel

Answer 46

(1) representation by party against who equitable estoppel is sought (2) reliance (3) change in position (4) detriment

Question 47

Specific Restitution

Answer 47

May be granted when a donor transfers something more or different from the intended gift, or makes the gift to someone other than the intended donee