EQUITABLE REMEDIES. Act in personam: (on the conscience of the party). Are discretionary. Shall not be granted where it would be in vain. For example where constant supervision of the court is necessary. It may not be available to a volunteer- Oba Akezua V Benin Divisional Council. Applies subject to other maxims of equity, like […]
CONVERSION, SATISFACTION, PERFORMANCE AND ELECTION. CONVERSION. The meaning and essence of this fictitious doctrine has been embodied in the dictum of Bowen LJ in Attorney General v. Hubbuck “When money is agreed or directed to be turned into land or land agreed or directed to be turned into money… equity would regard that which ought […]
ASSIGNMENT OF CHOSES IN ACTION. A chose in action is a personal intangible right in property which can only be enforced by taking legal proceedings and not by taking physical possession. A cursory appreciation of property is necessary for a proper understanding. Property can be classified into: Realty: immovable Personal: Movable property further classified into: […]
NATURE OF EQUITABLE INTEREST AND THE DOCTRINE OF NOTICE. Equitable interests are rights over property which (though invalid at common-law) were recognised and enforced by the courts of chancery. At common-law, certain formalities had to be observed to create or transfer a legal interest in property. Section 1 and 4 of the statute of frauds […]
MAXIMS OF EQUITY: The exercise of equitable jurisdiction was based on certain principles which are now embodied in the “maxims of equity”[1]. These maxims reflect the nature and essence of equity in pithy phrases which guide the application of its rules. Some are fund of numbering these maxims. This at best amounts to an indirect […]
LAW OF EQUITY This note is too short please consult your textbooks. It should serve as a mere guide. Please read sentence line thoroughly and ask questions where confused. DEFINITION OF EQUITY. Broadly speaking, equity is that which is fair, right and just… a moderator of the rigour of legal rules seeking to mitigate the […]
