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In law, an equitable interest is an "interest held by virtue of an equitable title (a title that indicates a beneficial interest in property and that gives the holder the right to acquire formal legal title) or claimed on equitable grounds, such as the interest held by a trust beneficiary". [1]
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.
The rule in Dearle v Hall (1828) 3 Russ 1 is an English common law rule to determine priority between competing equitable claims to the same asset. The rule broadly provides that where the equitable owner of an asset purports to dispose of his equitable interest on two or more occasions, and the equities are equal between claimants, the claimant who first notifies the trustee or legal owner of ...
Earl of Oxford's case (1615) 21 ER 485 is a foundational case for the common law world, that held equity (equitable principle) takes precedence over the common law.. The Lord Chancellor held: "The Cause why there is Chancery is, for that Mens Actions are so divers[e] and infinite, that it is impossible to make any general Law which may aptly meet with every particular Act, and not fail in some ...
The Language Learning Centre, established in July 2021, is a place for editors who may frequently translate articles from other Wikipedias and use a variety of different languages sources to develop their skills so that they can at least improve their understanding of text on another language Wikipedia and not solely rely on automated translation.
Therefore to talk about the Bank "retaining" its equitable interest is meaningless. The only question is whether the circumstances under which the money was paid were such as, in equity, to impose a trust on the local authority. If so, an equitable interest arose for the first time under that trust.
Wikipedia: Wiki Ed/College of Languages and Translation/Business and Commercial Translation (Fall 2021)
Someone with an equitable interest in the property but no legal title, as in MCC Proceeds v Lehman Brothers, [9] cannot recover the money under common law. [10] Due to these limitations, "many leading academics and judges" have suggested that common law tracing should be completely merged with equitable tracing. [11]