Equity LG/WS 4 - Equity's intervention

  • Created by: Emma13
  • Created on: 21-06-18 18:44
What is the definition of unconscionably?
“A party in either a social or commercial relationship with another person will not be allowed to take unconscientious advantage of that other person.” - Halliwell, Equity and Good Conscience in a Contemporary context (Old Bailey Press 1997)
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Why is there no unifying definition of unconscionable conduct?
The reason why there is no unifying definition of unconscionable conduct could be that it operates in so many different social and commercial contexts and the facts which lead to equity’s intervention are different in each one.
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What are the conditions of proprietary estoppel?
Where: A party has made an assurance that the claimant will have an interest in property and The claimant has acted to his detriment in reliance on that assurance (sufficient assurance) The party is estopped from denying his assurance.
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Why does equity enforce secret trusts?
Equity will not allow statute to be used as an instrument of fraud. Half secret trusts “purposes he knows about.”
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What is a constructive trust?
Constructive trusts are implied trust
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What did Beatty establish?
"conscience of equity finds expression. When property has been acquired in such circumstances that the holder of the legal title may not in good conscience retain the beneficial interest, equity converts him into a T'ee"
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What does the Matrimonial Causes Act 1973 establish?
Family homes in the name of one partner only. Rights for married couples and civil partners - doesn't apply to anyone else
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When does a common intention constructive trust arise?
There was a common intention that the claimant should have an interest in the house and The claimant acted to his or her detriment in reliance on that common intention.
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Will equity intervene in all cases of unconstitutionality or only in defined circumstances?
Lord Denning’s views; advantages of judges deciding individual cases by applying a general principle of preventing unconscionability, as opposed to following principles laid down by precedent
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What did Lord Dillion in Spingette v Defoe say?
Regards to whether equity will intervene in all cases of unconstitutionality “The court does not, as yet...exercise a general discretion to do what the man in the street, on a general overview of the case, might regard as fair.”
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What are fiduciary duties and what are fiduciaries?
To prevent unconscionable abuse of legal power. Fiduciaries are constructive trustees of any unauthorised profits
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Are trustees under a fiduciary duty?
Trustees are under a fiduciary duty not to place themselves in a position where their self-interest in making profits for themselves might conflict with their duty to the trust.
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What are some examples of fiduciary duties?
Solicitors owe fiduciary duties to clients Directors owe fiduciary duties to their companies Senior employees owe fiduciary duties to their employers
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What are resulting trusts and when do they arise?
Implied trust; where a settlor/testator has transferred property to a t'ee to hold on trust but the trusts don't dispose of entire equitable interest
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What happens with resulting trusts?
The trustee holds the property on a resulting trust for the settlor or the testators estate
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When do resulting trust arise and what are they based on?
Arising on failure to dispose of the equitable interest, based on the settlor's implied intention
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Other cards in this set

Card 2

Front

Why is there no unifying definition of unconscionable conduct?

Back

The reason why there is no unifying definition of unconscionable conduct could be that it operates in so many different social and commercial contexts and the facts which lead to equity’s intervention are different in each one.

Card 3

Front

What are the conditions of proprietary estoppel?

Back

Preview of the front of card 3

Card 4

Front

Why does equity enforce secret trusts?

Back

Preview of the front of card 4

Card 5

Front

What is a constructive trust?

Back

Preview of the front of card 5
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