Equity Definition of Equity The term ‘Equity’ is used in various senses‚ out of many the main four senses in which the term is used are: - 1. Literal senses 2. general senses 3. roman senses 4. English senses. 1. Literal senses:- Its sole aim may be to do justice to the parties in a case characterized by a configuration of facts unlikely ever to be repeated in reality in the same or similar way. The literal meaning given to equity is “right” as founded on the laws
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Equity was developed over centuries but initially as a reaction to the “harshness of the common law or lack of developments in common law”. Furthermore‚ the common law system went unchanged for centuries and was a system were petitions were presented to the King for his grace in some complaint where “the usual royal answer was let him sue in common law”. In addition‚ complainants often complained about officials in respect of misconduct and unfairness. During the 14th century petitioning to
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Sales of private label cereal grew 50% from 1991-1994 in the Ready-to-Eat breakfast cereal industry. Some of the factors that contributed to the entry of private label cereal manufacturers and their subsequent growth include - lower costs related to manufacturing‚ packaging‚ marketing‚ R&D compared to the Big 3 cereal companies‚ product quality approaching that of branded products‚ higher margins for grocers‚ lower priced products. Some observers blamed higher prices and elaborate expenditure on
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The following is a supplement to the discussion of the Milroy v Lord and Re Rose principles in Equity Trusts relating to the cases of T Choithram International SA v Pagarani 2001 2 All ER 492 and Pennington v Waine 2002 4 All ER 215. These cases confirm the existing law for the most part‚ although in factual circumstances which have occasioned comment by some jurists. The Underlying Principle in Milroy v. Lord An imperfect gift will not be perfected simply by interpreting the donor to be a trustee
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Objective National Bank of Canada ("NBC" or "the Bank") is tasked with the decision to review Dawson Lumber Company Limited ’s ("Dawson") request for an increase in its line of credit up to the amount of $10.8mm. Dawson intends to finance inventory and receivables with the line of credit. NBC must remain cognizant of the competitive landscape of the lumber industry and assess whether a focus on the retail segment is beneficial to Dawson ’s strategic plan. Given that Dawson is one of the region
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Arthur Underhill’s Definition (in Underhill and Hayton‚ Law of Trusts and Trustees) "an equitable obligation binding a person (called a trustee) to deal with property (called trust property) owned by him as a separate fund‚ distinct from his own private property‚ for the benefit of persons (called beneficiaries or‚ in old cases‚ cestuis que trust) of whom he may himself be one and any one of whom may enforce the obligation." Why create a trust? interested recipient of rights could be incapable
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CHANCERY DIVISION WALSH v. LONSDALE [1882 W. 1127.] This is one of the most frequently cited authorities on the effect of the Judicature Acts so far as the fusion of law and equity is concerned. Essentially the question down on whether the defendant could bring a legal remedy (distress) with respect to a lease which formerly would have been regarded as equitable only (effectively an agreement to grant a lease rather than one in proper legal form). Facts:The Defendant on the 29th of May 1879‚ agreed
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Introduction: As a rule of any contract‚ it is bound to the terms and conditions. As the contract circumstances are limited‚ the person is bound to sign the contract on someone else’s behalf. However there are many expectations that invalidate a contract which relates to the contract conscionability which confirms to be conscience. Unlike Unconscionable means unfair or unjust. In any law of a contract it means that the contract or the terms and conditions are unjust that the court will be forced
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overall tele-density has increased to 31.5% in October 2008.Market has huge potential for penetration. Score allotted is -0.26 -Customer Loyalty June 11‚ 2008: Airtel voted the 2nd Most Trusted Service Brand in the Annual Economic Times-Brand Equity‚ Most Trusted Brands survey RCOM is slightly better in application of funds Airtel wins the Platinum Trusted Brand Award in the Mobile Service provider category in the Reader’s Digest Asia Trusted Brands Survey . Score allotted is -0.15 Environmental
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account for the historical development of equity and consider (think about) the contemporary (existing) significance (implication) of equitable principles. In Roman mythology‚ Aequitas‚ also known as Aecetia‚ was the goddess of fair trade and honest merchants. Like Abundantia‚ she is depicted with a cornucopia‚ representing wealth from commerce. She is also shown holding a balance‚ representing equity and fairness. Aequitas is the source of the word equity‚ and also means "equality" or "justice"
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