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Equitable remedies are distinguished from "legal" remedies (which are available to a successful claimant as of right) by the discretion of the court to grant them. In common law jurisdictions, there are a variety of equitable remedies, but the principal remedies are: injunction [5] [6] specific performance; account of profits; rescission ...
These were common law (as distinct from equitable) claims giving rise to a personal liability to pay the money value of a benefit received from another. Legal scholars from Oxford, Cambridge and Harvard at the turn of the 20th century began to rationalise these disparate actions into a coherent body of law. [13]
Legal equity: The Court of Chancery, in early 19th-century London.. In the field of jurisprudence, equity is the particular body of law, developed in the English Court of Chancery, [1] with the general purpose of providing legal remedies for cases wherein the common law is inflexible and cannot fairly resolve the disputed legal matter. [2]
Prior to the introduction of the Judicature systems, the enforcement of equitable claims could only occur in a Court of Chancery who held the power to grant relief, and not by the common law. [30] Equating to new rights, exclusive jurisdiction provided relief against breaches of legal privileges which were not preserved by equity within the ...
A legal remedy, also referred to as judicial relief or a judicial remedy, is the means with which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes another court order to impose its will in order to compensate for the harm of a wrongful act inflicted upon an individual.
Maxims of equity are legal maxims that serve as a set of general principles or rules which are said to govern the way in which equity operates. They tend to illustrate the qualities of equity, in contrast to the common law, as a more flexible, responsive approach to the needs of the individual, inclined to take into account the parties' conduct and worthiness.
In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
In common-law legal systems, laches (/ ˈ l æ tʃ ɪ z / LAT-chiz, / ˈ l eɪ-/; Law French: remissness, dilatoriness, from Old French: laschesse) is a lack of diligence and activity in making a legal claim, or moving forward with legal enforcement of a right, particularly in regard to equity. It is an unreasonable delay that can be viewed as ...