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equitable compensation; appointment or removal of fiduciary; interpleader; equitable tracing as a remedy for unjust enrichment; The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be ...
Sometimes acting as the agent of the insurance company or debtor, at other times as the agent of the claimant. [8] Staff Adjuster- a staff adjuster works for one insurance company, typically in their internal claim's department. A staff adjuster's allegiance on handling the claim is to the insurance company, not the insured.
Tracing claims have two key advantages to claimants. Firstly, they are a proprietary remedy (as opposed to a simple personal claim) which means that, if the defendant is insolvent, then the claimant can take title to the goods, rather than just receiving an award of damages which may be of little value against a defendant in bankruptcy.
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.
An insurable interest is that legal or equitable relationship between the insured and the subject matter of the insurance, separate from the existence of the insurance relationship, by which the insured would be prejudiced by the occurrence of the event insured against, or conversely would take a benefit from its non-occurrence.
Key takeaways. DIC insurance is commonly used by business owners, especially those with large-scale operations or expensive corporate buildings, to bridge the gap in coverage from their standard ...
The Restatement (Third) of Restitution and Unjust Enrichment (2011) (“R3RUE”) states that unjust enrichment is a body of legal obligations under the common law and equity – but separate from tort and contract law – that is available to take away an enrichment that lacks an adequate legal basis. A claim of restitution for unjust ...
In an agency context, a principal may be obligated to indemnify their agent for liabilities incurred while carrying out responsibilities under the relationship. While the events giving rise to an indemnity may be specified by contract, the actions that must be taken to compensate the injured party are largely unpredictable, and the maximum ...