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Principles of Equity

 

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Maxims of Equity

 

 

1) Equity will not suffer a wrong to be without a remedy

    Equity will intervene in circumstances in which there is no apparent remedy.

Example: Priyanie Soysa V. Rienzie Arsecularatne

 

2) Equity will follow the law

    In all circumstances equity will be bound to follow the statutes (Law)

 

3)When there is equal equity the law shall prevail

    In a situation in which there is not clear distinction between parties, as to which of the has better claim in equity, the common law principle shall be applied.

 

4) Where equities are equal, the first in time shall prevail

    Time is important to equity. Showing it's commercial identity. for example, if two claimants have equally strong cases equity will favor the person who acquired their right first.

 

5) Delay defects the equities

Another example of the important of time in equity. the principle is that , if a claimant allow too much to elapse between the available facts and service of court proceeding to protect that claim, the court will not protect his right.

 

Trust Ordinance of Sri Lanka (CeyLon)

Penn v. Lord Baltimore  

Campbell v Hall (1774)

Jones v Maynard [1951] 1 All ER 802, Vaisey J
A soldier H going on active service gave his wife W power to draw cheques on his account. On their subsequent divorce, W claimed half the balance in the account, and her claim was allowed. There was evidence, said the judge, that the parties intended to make a common pool of their resources: both H and W paid in their earnings (though H's contribution was greater) and drew cheques, and they spoke of "our savings". W was therefore entitled to half the balance of the account and to half the value of various investments purchased from it in H's name.