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Legal Terms - equitable charge (equitable mortgage)
a *mortgage in which the borrower is not granted a legal claim to the property. An equitable mortgage could occur in the following ways: 1. The mortgagor can only grant an equitable mortgage if he has only a *equitable interest in the land. A mortgage given by a beneficiary under a *trust of land, for instance, could only be equitable. 2. If the mortgage is not made by deed, which is necessary for legal mortgages, an equitable mortgage will result. Nevertheless, the mortgage agreement needs to be in writing. 3. According to Section 27(1) of the Land Registration Act of 2002, a charge by way of a legal mortgage of registered land only becomes effective in equity if it is not recorded on the register.
a *mortgage in which the borrower is not granted a legal claim to the property. An equitable mortgage could occur in the following ways: 1. The mortgagor can only grant an equitable mortgage if he has only a *equitable interest in the land. A mortgage given by a beneficiary under a *trust of land, for instance, could only be equitable. 2. If the mortgage is not made by deed, which is necessary for legal mortgages, an equitable mortgage will result. Nevertheless, the mortgage agreement needs to be in writing. 3. According to Section 27(1) of the Land Registration Act of 2002, a charge by way of a legal mortgage of registered land only becomes effective in equity if it is not recorded on the register.
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Legal Terms Equitable assumptions
Equity infers that the existence of a particular set of facts leads to the assumption that other facts follow. For instance, a parent who voluntarily transfers to his child is presumed to have intended to make a *gift under the presumption of *advancement.
The assumption of equality (see equality is equity) and the presumption of a resultant trust are two more instances of equitable presumptions.
Equity infers that the existence of a particular set of facts leads to the assumption that other facts follow. For instance, a parent who voluntarily transfers to his child is presumed to have intended to make a *gift under the presumption of *advancement.
The assumption of equality (see equality is equity) and the presumption of a resultant trust are two more instances of equitable presumptions.
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Legal Terms - Equity remedies
*Equity-granted means to right a wrong. Due to the initial narrow scope of available legal remedies, equity used considerable discretion in awarding them, taking into consideration the parties' actions, especially the claimant's (see clean hands). These days, *specific performance, *rescission, *cancellation, *rectification, *account, *injunction, and the designation of a *receiver] are the primary equitable remedies. Although the discretion is frequently used along predetermined lines, these remedies are nevertheless discretionary in character and may be sought in any division of the High Court or, in some cases, in the county courts.
*Equity-granted means to right a wrong. Due to the initial narrow scope of available legal remedies, equity used considerable discretion in awarding them, taking into consideration the parties' actions, especially the claimant's (see clean hands). These days, *specific performance, *rescission, *cancellation, *rectification, *account, *injunction, and the designation of a *receiver] are the primary equitable remedies. Although the discretion is frequently used along predetermined lines, these remedies are nevertheless discretionary in character and may be sought in any division of the High Court or, in some cases, in the county courts.
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Legal Terms – equatible right to redeem
Even after the date of redemption specified in the mortgage deed has passed, the mortgagor has the right to repay the loan secured by his property and have the mortgage discharged. If the court finds that a term gives the mortgagee a *collateral advantage or that a clog or fetter on the equitable right to redeem unfairly interferes with the mortgagor's inviolable right to redeem, it may invalidate the term. These collateral benefits, clogs, or fetters are typically included in the mortgage terms (though not always; see Lewis v. Frank Love Ltd [1961] 1 WLR 261 (Ch)). These terms may include clauses like a *solus tie (Noakes & Co Ltd v Rice [1902] AC 24 (HL)) or an option to buy (Samuel v. Jarrah Timber & Wood Paving Corporation Ltd [1904] AC 323 (HL)).
Even after the date of redemption specified in the mortgage deed has passed, the mortgagor has the right to repay the loan secured by his property and have the mortgage discharged. If the court finds that a term gives the mortgagee a *collateral advantage or that a clog or fetter on the equitable right to redeem unfairly interferes with the mortgagor's inviolable right to redeem, it may invalidate the term. These collateral benefits, clogs, or fetters are typically included in the mortgage terms (though not always; see Lewis v. Frank Love Ltd [1961] 1 WLR 261 (Ch)). These terms may include clauses like a *solus tie (Noakes & Co Ltd v Rice [1902] AC 24 (HL)) or an option to buy (Samuel v. Jarrah Timber & Wood Paving Corporation Ltd [1904] AC 323 (HL)).
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Legal Terms - Equity
equity n. 1. That area of English law, as opposed to that managed by the *common law courts, was first administered by the *Lord Chancellor and then by the *Court of Chancery. Because it mostly relied on the remedy of damages, the common law had limited scope and flexibility and did not recognize some notions (such as uses and trusts). During the Middle Ages, plaintiffs had the right to petition the monarch, who would then decide each case fairly based on the counsel of his chancellor, who was typically an ecclesiastical figure known as "the king's conscience." By the fifteenth century, petitions were sent straight to the Chancellor, who handled matters flexibly and was more focused on achieving a just outcome than strict legal rules (hence the jurist John Selden's remark that "equity varied with the length of the Chancellor's foot"). Additionally, a defendant who disobeyed the Chancellor's order would be imprisoned for contempt of order until he made the decision to comply (see in personam).
A disagreement over who should win emerged in the 17th century between the Chancellor and common-law judges; James I settled the matter in the Chancellor's favor. By the early 19th century, the Court of Chancery had become more structured and its previously broad jurisdiction had solidified into a body of precedent with set norms as general principles had started to take shape. Many of the Court of Chancery's general principles were expressed in the form of *maxims of equity; equity had (and still has) certain doctrines (see election; conversion; reconversion; performance of contract; satisfaction) and the Court had a variety of jurisdiction types (see auxiliary jurisdiction, concurrent jurisdiction, and exclusive jurisdiction). The Court of Chancery was disbanded with the Judicature Acts of 1873–1875, which established the High Court of Justice to administer both common law and equity (although the Chancery Division continues to perform a large portion of its duties).
The Judicature Acts further stipulated that the norms of equity should take precedence over the rules of law in situations where they conflicted. Trusts, equitable property rights, relief from *penalties and forfeiture, and equitable remedies are currently the primary areas of equitable jurisdiction. The *freezing injunction and the *search order are contemporary examples of equity's inventiveness. Equity is therefore a regulated system of legal principles, but fresh developments are still possible ("equity is not past the age of child-bearing"). 2. An equitable claim or entitlement, particularly *simply equity, *equity of redemption, or *equitable interest. 3. A limited company stake.
equity n. 1. That area of English law, as opposed to that managed by the *common law courts, was first administered by the *Lord Chancellor and then by the *Court of Chancery. Because it mostly relied on the remedy of damages, the common law had limited scope and flexibility and did not recognize some notions (such as uses and trusts). During the Middle Ages, plaintiffs had the right to petition the monarch, who would then decide each case fairly based on the counsel of his chancellor, who was typically an ecclesiastical figure known as "the king's conscience." By the fifteenth century, petitions were sent straight to the Chancellor, who handled matters flexibly and was more focused on achieving a just outcome than strict legal rules (hence the jurist John Selden's remark that "equity varied with the length of the Chancellor's foot"). Additionally, a defendant who disobeyed the Chancellor's order would be imprisoned for contempt of order until he made the decision to comply (see in personam).
A disagreement over who should win emerged in the 17th century between the Chancellor and common-law judges; James I settled the matter in the Chancellor's favor. By the early 19th century, the Court of Chancery had become more structured and its previously broad jurisdiction had solidified into a body of precedent with set norms as general principles had started to take shape. Many of the Court of Chancery's general principles were expressed in the form of *maxims of equity; equity had (and still has) certain doctrines (see election; conversion; reconversion; performance of contract; satisfaction) and the Court had a variety of jurisdiction types (see auxiliary jurisdiction, concurrent jurisdiction, and exclusive jurisdiction). The Court of Chancery was disbanded with the Judicature Acts of 1873–1875, which established the High Court of Justice to administer both common law and equity (although the Chancery Division continues to perform a large portion of its duties).
The Judicature Acts further stipulated that the norms of equity should take precedence over the rules of law in situations where they conflicted. Trusts, equitable property rights, relief from *penalties and forfeiture, and equitable remedies are currently the primary areas of equitable jurisdiction. The *freezing injunction and the *search order are contemporary examples of equity's inventiveness. Equity is therefore a regulated system of legal principles, but fresh developments are still possible ("equity is not past the age of child-bearing"). 2. An equitable claim or entitlement, particularly *simply equity, *equity of redemption, or *equitable interest. 3. A limited company stake.
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Legal Terms - equity of redemption
all of a mortgagor's rights over the mortgaged property, subject to the mortgagee's rights. The worth of the property less the outstanding debt secured against it is typically the equity of redemption, which is more commonly just called the "equity." A home valued at £500,000 that has a £250,000 outstanding mortgage, for instance, will have £250,000 in equity. This equity can be bequeathed by will and can enable additional borrowing (subject to priority issues). Equity's beloved View the buyer's
all of a mortgagor's rights over the mortgaged property, subject to the mortgagee's rights. The worth of the property less the outstanding debt secured against it is typically the equity of redemption, which is more commonly just called the "equity." A home valued at £500,000 that has a £250,000 outstanding mortgage, for instance, will have £250,000 in equity. This equity can be bequeathed by will and can enable additional borrowing (subject to priority issues). Equity's beloved View the buyer's
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Legal Terms – Erga
In international law, erga omnes duties (Latin: towards all) obligations in which every state has a legal interest due to the significance of the topic for the global community at large. This implies that the violation of such a duty affects not just the state that was harmed but also every other member of the global community. Therefore, every state must be justified in claiming (perhaps through legal channels) responsibility for the guilty state's international wrongdoing in the case of a breach of these commitments. The right of a people to *self-determination has been proposed as an illustration of an erga omnes obligation.
In international law, erga omnes duties (Latin: towards all) obligations in which every state has a legal interest due to the significance of the topic for the global community at large. This implies that the violation of such a duty affects not just the state that was harmed but also every other member of the global community. Therefore, every state must be justified in claiming (perhaps through legal channels) responsibility for the guilty state's international wrongdoing in the case of a breach of these commitments. The right of a people to *self-determination has been proposed as an illustration of an erga omnes obligation.
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Legal Terms - Error
A legal mistake in a court's judgment or order, or in a procedural aspect of legal processes. A writ of error was historically employed to direct an inferior court to transmit its proceedings' records for examination by a superior court. It was eliminated in civil matters by the Judicature Acts of 1873–75 and in criminal cases by the Criminal Appeal Act of 1907, subsequently replaced by the contemporary system of appeal.
A legal mistake in a court's judgment or order, or in a procedural aspect of legal processes. A writ of error was historically employed to direct an inferior court to transmit its proceedings' records for examination by a superior court. It was eliminated in civil matters by the Judicature Acts of 1873–75 and in criminal cases by the Criminal Appeal Act of 1907, subsequently replaced by the contemporary system of appeal.
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Legal Terms - error juris nocet
[Latin: A legal error causes harm] To differentiate *mistakes of law from mistakes of reality, a legal maxim is occasionally applied.
[Latin: A legal error causes harm] To differentiate *mistakes of law from mistakes of reality, a legal maxim is occasionally applied.
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Legal Terms - equality of arms
The European Court of Human Rights developed this idea in relation to the right to a *fair trial (Article 6). A fair distribution of the possibilities available to the parties in a lawsuit is necessary for equality of arms; for instance, each side must be able to call witnesses and cross-examine those called by the opposing party. Financial assistance may be necessary in certain situations to enable someone with inadequate resources to pay for legal counsel (Airey v. Ireland (App number 6289/73) [1981] (ECHR 1)).
The European Court of Human Rights developed this idea in relation to the right to a *fair trial (Article 6). A fair distribution of the possibilities available to the parties in a lawsuit is necessary for equality of arms; for instance, each side must be able to call witnesses and cross-examine those called by the opposing party. Financial assistance may be necessary in certain situations to enable someone with inadequate resources to pay for legal counsel (Airey v. Ireland (App number 6289/73) [1981] (ECHR 1)).
