Does equity override common law?
Equity Law The Chancery developed its own system of rules which were separate and distinct from the common law rules. But equitable principles will override common law principles where there is a conflict.
What is the relationship between common law and equity?
The judges in the common law system declared the substance of the law when they made decisions regarding the different cases of law. The judges in the Chancery Courts who administered the rules of equity brought about the system of judge-made law, which is based on precedents.
What is the difference between 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 are actions rather than a financial award.
What are the 3 equitable remedies?
There are three types of equitable remedies: specific performance, injunction, and restitution.
What is an example of equitable relief?
A common form of equitable relief will order the rescission of a contract, which cancels all terms and obligations and restores both parties to their pre-contract position. For example, gag orders, which prevent a party from publishing sensitive information, are often issued in cases of intellectual property theft.
What is the most common type of damages awarded by a court?
COMPENSATORY. Compensatory damages are generally the most identifiable and concrete type of damages. These include amounts for lost income, property damages, and medical care resulting from the Defendant’s misconduct.
What are the types of equitable remedies?
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 is an equitable wrong?
3. 3. The term “equitable wrongs” is used generically to encompass breach of fiduciary duty and equitable breach of confidence, but does not include the retention of an unjust enrichment by a non-fiduciary or a non-confidant.
Can you exclude equitable remedies?
∎ Equity is subject to terms of parties’ contract and can be excluded by contract: Ozton Pty Ltd v Cromwell Seven Hills Pty Ltd [2016] NSWSC 1339. Equitable remedies are broad in scope, flexible and direct in application, and supplement remedies provided by common law.
What Cannot be excluded from liability?
You can never limit or exclude liability for death or personal injury caused by negligence, liability for fraud, or strict liability. If you attempt to do so in a clause, the whole clause could be unenforceable.
What can never be excluded or restricted by way of a contract clause?
An exclusion clause can never exclude remedies for: death or personal injury; breach of statutory implied terms in consumer contracts.