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Rectification is a remedy whereby a court orders a change in a written document to reflect what it ought to have said in the first place. It is an equitable remedy , [ 1 ] and so the circumstances on which it can be applied are limited.
This includes "he who comes to equity must come with clean hands" (that is, the court will not assist a claimant who is himself in the wrong or acting for improper motives), laches (equitable remedies will not be granted if the claimant has delayed unduly in seeking them), "equity will not assist a volunteer" (meaning that a person cannot ...
An instrument is a result of negotiations. Sometimes, an instrument may fail to express the intention of the involved parties. Rectification of such an instrument may become necessary. Help towards parties who want to have their documents (which are mistakenly executed) rectified, is provided in Chapter III of the Specific Relief Act.
A legal remedy, also referred to as judicial relief or a judicial remedy, is the means with which a court of law, usually in the exercise of civil law jurisdiction, enforces a right, imposes a penalty, or makes another court order to impose its will in order to compensate for the harm of a wrongful act inflicted upon an individual.
Rectification (law), an equitable legal remedy whereby a court orders a change in a written document to reflect what it should have said in the first place; Rectification, in astrology, "rectification of the birth time" is used when natal birth time is imprecise; Rectification movement (disambiguation)
For example, let’s say that your current mortgage loan balance is $360,000. But your home is only worth $300,000. In that case, you would have negative equity of $60,000.
Conceptually, equity was part of the historical origins of the system of common law of England, [2] yet is a field of law separate from common law, because equity has its own unique rules and principles, and was administered by courts of equity. [2] Equity exists in domestic law, both in civil law and in common law systems, and in international ...
Return on equity (ROE) and return on assets (ROA) determine how efficient a company can be at generating profits. Both formulas that can help investors determine how good a company is at turning a ...