· 66) When, generally, are equitable remedies available? A) They are usually the first remedy that a court will try to apply. B) They are required to be used alongside any legal remedy. C) They are only awarded when a breach of contract case has been appealed. D) They are used when the legal remedy does not adequately compensate the nonbreaching ...
Unformatted text preview: WHAT ARE EQUITABLE REMEDIES?There are a number of equitable remedies available to address breach of contract Rescission Unlike the common law remedy based on ‘self-help’, the equitable remedy is not self-help or an act of the party concerned: it is a remedy which the court grants as it orders that the transaction be set aside, and the court has …
The first general rule is that equitable remedies are always discretionary. Secondly, equitable remedies are only available if the relevant common law remedy is insufficient to protect the claimant or compensate for the wrong he has suffered. Thirdly, equity acts in personam which means that it has to be against a person.
When Equitable Remedies are Allowed • What if a breach results in a loss that cannot be cured by payment of any amount of money • Equitable remedies may be available when there is “no adequate legal remedy” for a breach • Equity, in the generic sense, means fairness and that is the underpinning of equitable remedies • Historically, when the “Royal Courts” (“courts of law ...
A court will typically award equitable remedies when a legal remedy is insufficient or inadequate. For example, courts will typically award equitable relief for a claim which involves a particular or unique piece of real estate, or if the plaintiff requests specific performance.
Specific performance, restitution, and injunction are the classification of equitable remedies.
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.
Equitable relief is distinguished from remedies for legal actions in that, instead of seeking merely monetary damages, the plaintiff is seeking that the court compels the defendant to perform a certain act or refrain from a certain act. Common types of equitable relief are injunctions, specific performance, or vacatur.
Equitable remedies are actions rather than a financial award. They are often granted when monetary compensation or other legal remedies do not provide an adequate resolution. The court may require that legal damages must be unavailable before a judge will award equitable relief.
An introduction to various remedies available in equity, including rectification, specific performance, injunctions, estoppel, account of profits, subrogation, rescission, declarations and liens.
Four most common equitable remedies : Injunction, specific performance, rescission and reformation, restitution.
An equitable remedy in which a court orders a party to perform, or refrain from performing, a particular act. A prohibitory injunction is an order forbidding a party from performing an act; a mandatory injunction is an order to perform an act.
There are three types of equitable remedies: specific performance, injunction, and restitution.
A common type of equitable remedy used in the case of unique goods is called "specific performance." In this type, a court orders the breaching party to fulfill the exact terms of the agreement. For example, you run an art gallery. It's contracted to display a piece by a well-known artist in an upcoming exhibition.
By contrast, a party may obtain an equitable remedy when a court forces the other party to perform to its part of the contract. This is in lieu of imposing a fine. A court may decide on equitable remedies when it believes ...
Restitution is restoring to a party what was given to the other, and it applies to the following types of situations: 1 Incapacity or misrepresentation voids the contract. 2 One party breaches the agreement. 3 The party seeking restitution breaches the contract.
Courts may also modify contract terms to make it more fair for one or both contractual parties. In cases where the contract is especially unfair to one side, the court may cancel or rescind the agreement altogether, which places both sides in the positions they were in prior to entering the contract.
An injunction is another equitable remedy, which directs someone to stop doing something he or she shouldn't do. For example, an employer and employee sign a non-compete agreement. After the employee leaves the employer, he breaches the contract by competing with his former company.
When a contract is breached, different outcomes may result.
A common type of equitable remedy used in the case of unique goods is called "specific performance.". In this type, a court orders the breaching party to fulfill the exact terms of the agreement. For example, you run an art gallery. It's contracted to display a piece by a well-known artist in an upcoming exhibition.
As defined in Black’s law dictionary a remedy is “the means by which a right is enforced or the violation of a right is prevented, redressed, or compensated. The word “remedy” in a legal context has virtually the same meaning in a medical context, namely, to cure. In a legal context, a remedy cures the violation of a legal right.
The Law of Specific Relief is in its essence, a part of the law of procedure, for Specific Relief is a form of judicial redress [xix]. In executor contracts, a suit may be brought to compel the performance of the contract by the person in default. Such relief may be either positive or negative.
As is well-known, England and most of her former colonies operate under a common law system. Very briefly, this means that in the absence of a statute or other legislation or regulation, judges have the authority to decide what the law is on a particular issue. Subsequent courts addressing the same issue are then bound by the previous court’s decision, which is known as a precedent. In order for this system to develop in an organised fashion, precedent was rigidly applied; if the facts of the case were more or less the same as a precedent, the precedent governed the case before the court.
Very briefly, this means that in the absence of a statute or other legislation or regulation, judges have the authority to decide what the law is on a particular issue. Subsequent courts addressing the same issue are then bound by the previous court’s decision, which is known as a precedent.
Specific Relief Act was enacted in 1877.
Injunction in a way could be called a mode of enforcing specific performance of negative agreements. As Maitland puts it “injunction is an order made by the court forbidding a person or class of persons doing a certain act or acts of a certain class upon pain of going to prison as contemnors of court.”.
If the plaintiff has acted in an unfair inequitable manner he cannot have relief [xxxvi]. The temporary injunction to restrain a breach of contract are regulated by the present Rule 2 Order 39 of CPC while perpetual injunctions are regulated by sections 38 to 42 of the specific relief act.