What are the 3 equitable remedies?
What are the 3 equitable remedies?
There are three types of equitable remedies: specific performance, injunction, and restitution.
What is equity jurisprudence?
In law, the term “equity” refers to a particular set of remedies and associated procedures involved with civil law. These equitable doctrines and procedures are distinguished from “legal” ones.
What are equitable remedies?
The equitable remedies are specific performance (an order directing a person to deliver to the buyer the unique thing the seller contracted to sell), injunction (an order directing a person to stop doing that which he should not do), and restitution (the return by one party of the benefit conferred on him when the …
What are equitable and legal remedies?
Legal remedies are ones that allow the party not in breach to recover money, whereas equitable remedies involve resolution through non-monetary solutions. Equitable Remedies. Equitable remedies are actions rather than a financial award.
What is the difference between remedies at law and remedies in equity?
What is the difference between remedies at law and in equity? Remedies at law are limited to payments of money or property (including land) as damages. Remedies in equity is available only when there is no adequate remedy at law.
Why are equitable remedies important?
Equitable remedies are judicial remedies developed by courts of equity from about the time of Henry VIII to provide more flexible responses to changing social conditions than was possible in precedent-based common law.
What is the definition of equity in law?
A legal definition from the Oxford dictionary describes equity as ‘a branch of law that developed alongside common law and is concerned with fairness and justice, formerly administered in special courts’.
What are the two types of equitable remedy?
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 mandatory (requiring a person to do something) or prohibitory (stopping them doing something).
What are the differences between legal and equitable remedies choose 2 answer choices?
What is the difference between legal remedies and equitable remedies for breach of contract? Legal remedies are monetary while equitable remedies are non-monetary.
What is the difference between equitable and legal?
The status of an interest in land as either legal or equitable traditionally determined the rules of enforcement of that interest against third parties: legal interests bound all third parties, whereas equitable interests would only bind third parties who were not bona fide purchasers for value of a legal estate …
What is an example of equity law?
In a civil lawsuit the court will award monetary damages, however, equity was formed when monetary damages could not adequately deal with the loss. An example of this is if someone is infringing on a trademark of yours, you can get monetary damages for the loss, but your business could be ruined if they continue.
What is the difference between common law remedies and equitable remedies?
parties. Equitable remedies are broad in scope, flexible, direct in application and supplement the common law. Unlike common law remedies, equitable remedies are not constrained by concepts such as remoteness of damage or causation, thereby enabling equity to go beyond the common law in redressing loss and damage.