JSB171 Lecture Notes - Lecture 1: De Facto, Security Interest, Equitable Remedy
Document Summary
Benefits of equitable remedies: more flexible than cl damages, allows court to consider all circumstances incl. plaintiff"s conduct, laches, etc, can be remedy against individual or property. Types of trust: express trusts, intention, transfer of property to trustee to hold subject to an equitable obligation for benefit of beneficiary (form of fiduciary relationship) Substantive institution: arises by operation of law, based on breach of duty (equitable or otherwise, at the date of the circumstances which give rise to the trust, not at the date of trial: parsons v mcbain. Equitable remedy: arises by order of the court, remedial response for the purpose of acknowledging that others are entitle to the property, based on unconscionability (or breach of fiduciary duty), not pre-existing equitable rights: Stephenson nominees (1987) per gummow j: at the date of trial, as a remedial response to a claim for equitable intervention.
