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equitable tracing as a remedy for unjust enrichment; The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them ...
Where a personal remedy is awarded, the defendant is ordered to pay the money value of the benefit received. This personal money award is the typical form of restitution ordered. Where a proprietary remedy is awarded, the court recognises (or declares) that the defendant has a beneficial or security interest in specific property of the ...
This is permitted under Article 9 of the Uniform Commercial Code. [1] The secured party in a strict foreclosure takes physical possession of collateral, and the debt for which the property served as collateral is discharged as fulfilled. Strict foreclosure is an effective remedy where the creditor has a need or use for the physical property itself.
Injunction is a court order that coerces the defendant to take specific acts or refrains him or her from engaging in certain actions, e.g., breaching a contract. [9] In the U.S., injunction is the most common type of equitable remedies, and failure to comply with an injunction can lead to results ranging from fines to imprisonment.
Rescission is an equitable remedy and is discretionary. [4] It is used as a synonym for termination at law. A court may decline to rescind a contract if one party has affirmed the contract by his action, [ 5 ] or a third party has acquired some rights or there has been substantial performance in implementing the contract.
This equitable remedy is a presence when the courts ask the defendant or the suffering party to do something, such as breaching a contract or "injunctive relief. [9] The equitable remedy can be a presence that if the defendant does not want any monetary damages for the case that they suffer; instead, they want equity that afford the relief. [6]
In common law countries there are a variety of remedies that can be imposed when the court is satisfied that an equitable tracing claim has been made. The principal remedies are: an election to take the property (or a resulting trust) an equitable charge over the property; an account of profits, secured by an equitable lien; a constructive trust
An account of profits (sometimes referred to as an accounting for profits or simply an accounting) is a type of equitable remedy most commonly used in cases of breach of fiduciary duty. [1] It is an action taken against a defendant to recover the profits taken as a result of the breach of duty, in order to prevent unjust enrichment.