Equity Flashcards
What are the types of common law remedies?
1) Order to pay money for damages; and 2) order of possession of goods (land or goods).
Which has more remedies equity or the common law?
Equity.
What are the equity remedies?
1) Account; 2) injunction; 3) specific performance; 4) rescission; 5) rectification; and 6) relief and forfeiture; etc.
Which has more formalities equity or the common law?
Common law.
What’s a remedy?
Cure to fix a legal-problem.
What’s a primary right?
rights created by other than wrongs.
Give two examples of how primary rights arise.
1) through consent; and 2) being born.
What’s a secondary right?
Rights that arise upon a breach of a primary right.
What is a court order?
Court giving effect to a right.
What’s a non-coercive order?
Guidance by the court without a demand.
What’s an Injunction?
An equitable remedy.
What are the two types of injunctions and their sub-types?
1) prohibitive; and 2) mandatory. Sub type for both are interim and perpetual.
What’s a prohibitive injunction?
An injunction that stops x from doing y.
What’s a mandatory injunction?
An injunction that makes x do y.
What’s the difference between a perpetual and interim injunction?
Perpetual lasts forever, while interim is temporary.
What is specific performance? When do they apply?
Specific performance is enforcing the defendant to a contract to perform obligations under the contract and it applies where damages aren’t sufficient.
Is specific performance performed more on land contracts or sales of goods contracts?
It is routine in land contracts but with sale of goods you don’t usually get specific performance.
What is the exception to the rule regarding specific performance for sale of goods contracts? Which case illustrates this?
If goods are rare or unique then sale of goods contracts could have specific performance (Behnke v Bede Shipping).
Does specific performance apply to company shares?
It depends on the type of shares. If public then damages are regular if private shares then specific performance is
