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Maxims of equity are legal maxims that serve as a set of general principles or rules which are said to govern the way in which equity operates. They tend to illustrate the qualities of equity, in contrast to the common law, as a more flexible, responsive approach to the needs of the individual, inclined to take into account the parties' conduct and worthiness.
Automatic resulting trusts arise from a "gap" in the equitable title of property. The equitable maxim "equity abhors a vacuum" is followed; it is against principle for a piece of property to have no owner. [13] As such, the courts assign the property to somebody in a resulting trust to avoid this becoming an issue. [13]
Legal equity: The Court of Chancery, in early 19th-century London.. In the field of jurisprudence, equity is the particular body of law, developed in the English Court of Chancery, [1] with the general purpose of providing legal remedies for cases wherein the common law is inflexible and cannot fairly resolve the disputed legal matter. [2]
One of the equitable maxims is that "equity will not assist a volunteer"; if someone does not have an interest in property, they cannot bring a court case. When trusts are not properly constituted, the trustees and beneficiaries have no equitable interest in the property, and so are volunteers. There are several exceptions to this maxim. [20]
In this context, "common law" means the judge-made law of the King's Bench; whereas equity is the judge-made law of the (now-defunct) Court of Chancery. [15] Equity is concerned mainly with trusts and equitable remedies. Equity generally operates in accordance with the principles known as the "maxims of equity". [h]
Hussey v Palmer [1972] EWCA Civ 1 is an English trusts law case of the Court of Appeal. It concerned the equitable remedy of constructive trusts. It invokes the equitable maxim, "equity regards the substance and not the form."
Walsh v Lonsdale (1882) 21 Ch D 9 is an English property law case about the effect of the Judicature Acts.It is the authority for the equitable maxim that "Equity regards as done that which ought to be done".
Equity is a source of law peculiar to England and Wales. Equity is the case law developed by the (now defunct) Court of Chancery. [13] Equity prevails over common law, but its application is discretionary. Equity's main achievements are: trusts, charities, probate, & equitable remedies. There are a number of equitable maxims, such as: "He who ...