equity and trust law pdf

Equity and trust law pdf

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Equity and Trusts/Introduction

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Equity (law)

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Equity and trusts is a unique branch of English law based on a body of principles made by the Courts of Chancery , that focusses on bringing balance to the legal system, particularly the Common Law. The law of trusts was constructed as an adjunct to the law of property , to tend to situations in which one person holds legal title to a property, but the courts decided it is fair, just or "equitable" that another person should benefit from the property. There is now an acknowledged division between legal and beneficial ownership: the legal owner is referred to as a "trustee" because he is "entrusted" with the property and the beneficial owner is the "beneficiary". The word "equity" normally suggests justice and fairness i. Up to , Equity was administered by the Court of Chancery, whilst the Common Law was administered in an entirely separate but parallel system of courts.

Equity and Trusts/Introduction

Equity essentially means fairness. Our legal system is based on these rules and this area of law gave birth to the law of trusts. Trust law is a set of rules that have been established to regulate situations where one person places trust in another person to look after their affairs. This includes the way that charities are run or the way that money left to somebody in a will is governed. Equity stretches across all areas of law.

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The Principles of Equity and Trusts. Graham Virgo. The Principles of Equity and Trusts offers a refreshing, student-focused approach to a dynamic area of law.

The origins of Equity Equity is a system of law historically developed in the Court of Chancery correcting unconsciousble conduct on the part of a defendant. It was developed by the Court of Chancery to solve deficiencies of the common law and correct unconsciousble conduct. The Chancellor recognized the inability of the common law to deal with social and economic changes taking place in society. It administered equitable relief by asking the defendant to personally appear before him personam.

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Equity & Trust

Please read the full statement here. Equity and Trusts deals with the rules and principles governing the creation and operation of trusts — a particular method of holding property.

Equity (law)

It is a curious paradox that, while both equity and land law 1 would seem at first glance to be natural objects of socio-legal study, concerned as both are with values and power relations, the black-letter approach tends to dominate our syllabuses and textbooks, with only the barest nod in the direction of historical context and a smattering of policy. The focus of these courses is the legal rules , and most of us are content if, by the end of the module, our students can apply the correct law to the facts of a problem question and give competent advice. This is hardly surprising. In the face of rising failure rates, teachers face the challenge of making them as straightforward as possible, while yet covering sufficient content to satisfy the professional requirements laid down by the Joint Academic Standards Board. Many of us conclude that if we send our students out into the world with this skill in the area of property law, where it is so often lacking, this is a significant achievement. And so it is.

In jurisdictions following the English common law system , equity is the body of law which was developed in the English Court of Chancery and which is now administered concurrently with the common law. For much of its history, the English common law was principally developed and administered in the central royal courts: the Court of King's Bench , the Court of Common Pleas , and the Exchequer. Equity was the name given to the law which was administered in the Court of Chancery. The Judicature Reforms in the s effected a procedural fusion of the two bodies of law, ending their institutional separation.

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5 comments

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  • Helenmaria57 29.05.2021 at 11:25

    The separate body of law, developed in the Court of Chancery, which supplements, corrects, and controls the rules of common law.

    Reply
  • Slatfancyjunc 30.05.2021 at 03:49

    Preview - Copyrighted Material. Trusts and. Equity. Sixth Edition. GARY WATT. Professor of Law, University of Warwick hondapeople.org

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