concept of equity
UILMS,2013
UILMS 2013
sUBMITTED TO: dR. ANUPAM ACHARYA PROFESSOR
SUBMITTED BY: HEMANSHI ANDLEY
CLASS: 8TH SEMESTER
ROLL NO: 1689
PREFACE
This assignment throws glimpse on the important aspect of the Equity and trust-‘CONCEPT OF EQUITY’. The law relating to equity is largely built on precedent. The rules have been built upon by previous situations which they have dealt with. Equity" may generally be defined as the correction of a defect or error in the law. This idea is apparently of ancient origin, tracing back at least as far as Aristotle, who defined equity as an exception to the rule where the lawgiver 's pronouncement is defective and erroneous.
ACKNOWLEDGEMENT
Sincere thanks to our Professor, Dr. Anupam Acharya for guiding me throughout the assignment.
I would also like to thank my parents, internet and our college library for supporting me throughout this project.
INDEX
Chapter no.
Title
Page no.
1.
Introduction 6
2.
Definition of Equity 7
3.
Meaning of Equity 8
4.
Historical Background of Equity 9
5.
Development of Equity in England 10
6.
Court of Chancery 12
7..
Nature and Purpose of Equity 14
8.
Maxims in Equity 16
9.
Subject matter of Equity 18
10.
Equity in India
19
11.
Conclusion
20
12.
Bibliography
21
CHAPTER-1
Introduction
In law, the term equity refers to a particular set of remedies and associated procedures. These equitable doctrines and procedures are distinguished from "legal" ones. Equitable relief is generally available only when a legal remedy is insufficient or inadequate in some way. This could be when a claim involves a particular piece of real estate, or if specific performance is the relief requested by the plaintiff.
The distinction arose in England where there were
UILMS 2013
sUBMITTED TO: dR. ANUPAM ACHARYA PROFESSOR
SUBMITTED BY: HEMANSHI ANDLEY
CLASS: 8TH SEMESTER
ROLL NO: 1689
PREFACE
This assignment throws glimpse on the important aspect of the Equity and trust-‘CONCEPT OF EQUITY’. The law relating to equity is largely built on precedent. The rules have been built upon by previous situations which they have dealt with. Equity" may generally be defined as the correction of a defect or error in the law. This idea is apparently of ancient origin, tracing back at least as far as Aristotle, who defined equity as an exception to the rule where the lawgiver 's pronouncement is defective and erroneous.
ACKNOWLEDGEMENT
Sincere thanks to our Professor, Dr. Anupam Acharya for guiding me throughout the assignment.
I would also like to thank my parents, internet and our college library for supporting me throughout this project.
INDEX
Chapter no.
Title
Page no.
1.
Introduction 6
2.
Definition of Equity 7
3.
Meaning of Equity 8
4.
Historical Background of Equity 9
5.
Development of Equity in England 10
6.
Court of Chancery 12
7..
Nature and Purpose of Equity 14
8.
Maxims in Equity 16
9.
Subject matter of Equity 18
10.
Equity in India
19
11.
Conclusion
20
12.
Bibliography
21
CHAPTER-1
Introduction
In law, the term equity refers to a particular set of remedies and associated procedures. These equitable doctrines and procedures are distinguished from "legal" ones. Equitable relief is generally available only when a legal remedy is insufficient or inadequate in some way. This could be when a claim involves a particular piece of real estate, or if specific performance is the relief requested by the plaintiff.
The distinction arose in England where there were
Bibliography: 1. Equity, Trust, Mortgage & Specific Relief Act by Aqil Ahmad 2. Principles of Equity by G.P.Singh 3. www.google.com 4. http://www.lawteacher.net 5. http://en.wikipedia.org