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Remembering Equity and its Role in Property Relationships. Associate Professor Cameron Stewart Division of Law. The Blind Men and the Elephant. John Godfrey Saxe . The Anglo-Saxon Invasions c500AD. The Battle of Hastings 1066. Sovereignty Absolute beneficial title Reception of laws
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Associate Professor Cameron Stewart
Division of Law
King’s Council later Concilium Regis and then Privy Council
(i) the exploitation of vulnerability or weakness, as exemplified in principles relating to unconscionable dealing and undue influence;
(ii) the abuse of positions of trust or confidence, as exemplified in the law of trusts and fiduciary obligations generally;
(iii) the insistence upon rights in circumstances which make such insistence harsh or oppressive as exemplified in relief from penalties and forfeiture, the law of equitable set-off, and the refusal of specific performance on the discretionary ground of hardship;
(iv) the inequitable denial of obligations, as exemplified in the doctrine of part performance and the principle of equitable estoppel;
(v) the unjust retention of property, as exemplified in certain constructive trusts and principles of subrogation
In common law B is not the owner as the contract has not been completed so the property cannot be returned
In equity, the rule in Lysaght v Edwards says that B gets an equitable interest from the exchange and that it is a form of constructive trust, which can be enforced against C (when he knows about B)
A --------------------------B --------------------C
(Landowner) (feoffee to use ) (cestui que use)
Legal estate Beneficial estate
23BAssurances of land to be by deed
23CInstruments required to be in writing
54AContracts for sale etc of land to be in writing
CL says no deal
EG Able agrees to sell his land to Barb. Able gives the title deeds to barb and signs a receipt for the purchase money even though he has yet to be paid. Barb proceeds to grant an equitable mortgage over the land to Clary. How has the better interest?
1. by a purchaser:
2 for value
3 in good faith
4. without notice of the prior equitable interest
The rule in Wilkes v Spooner
Subsequent purchasers are in the same shoes as the legal estate holder even when the subsequent legal interest has notice or receives via gift
The effect of registration?