Natural Equity - Law Dictionary Search Results
Home Dictionary Name: natural equityNatural equity
Natural equity. See EQUITY....
Equity
Equity [fr. 'quitas, Lat.] There is some confusion as to the meaning of Equity; as a scheme of jurispru-dence distinct from Law 'Equity' is an equivocal term; the difficulty lies in drawing the dividing lines between the several senses in which it is used. They may be distinguished thus:-(1) Taken broadly and philosophically, Equity means to do to all men as we would they should do unto us-by the Justinian Pandects, honeste vivere, alterum non l'dere, suum cuique tribuere. It is clear that human tribunals cannot cope with so wide a range or duties.(2) Taken in a less universal sense, Equity is used in contradistinction to strict law. This is Moral Equity, which should be the genius of every kind of human jurisprudence; since it expounds and limits the language of the positive laws, and construes them not according to their strict letter, but rather in their reasonable and benignant spirit.Aristotle, in his discussion concerning Moral Equity, Ethics Eud., b.v., c. x, calls it the correc...
equity
equity pl: -ties [Latin aequitat- aequitas fairness, justice, from aequus equal, fair] 1 a : justice according to fairness esp. as distinguished from mechanical application of rules [prompted by considerations of ] [comity between nations, and require it to be paid for "F. A. Magruder"] b : something that is equitable : an instance of equity [the inequities produced by the system are outnumbered by the equities] 2 a : a system of law originating in the English chancery and comprising a settled and formal body of substantive and procedural rules and doctrines that supplement, aid, or override common and statutory law [the judicial power shall extend to all cases, in law and , arising under this Constitution "U.S. Constitution art. III"] see also chancery compare common law, law NOTE: The courts of equity arose in England from a need to provide relief for claims that did not conform to the writ system existing in the courts of law. Originally, the courts of equity exercised great ...
Clog on equity of redemption
Clog on equity of redemption. Any provision inserted in a mortgage to prevent redemption on payment or performance of the debt or obligation for which the security was given is called a 'clog' or fetter on the equity of redemption, and is void; see Santley v. Wilde, (1899) 2 Ch 474. The question as to the exact nature and limits of this old rule of equity has been raised in a number of rcent cases, see G. & C. Kreglinger v. New Patagonia Meat Co., 1914 AC 25, where will be found a discussion of the whole subject. And see EQUITY OF REDEMPTION; MORTGAGE....
Natural justice
Natural justice, the aim of the rules of natural justice is to secure justice or to put it negatively to prevent miscarriage of justice. These rules can operate only in areas not covered by any law validly made. In other words they supplant the rules of natural justice which are not embodied rules. What particular rule of natural justice should apply to a given case must depend to a great extent on the facts and circumstances of that case, the frame-work of the law under which the enquiry is held and the constitution of the Tribunal pointed for the purpose, A.K. Kraipak v. Union of India, AIR 1970 SC 150: (1969) 2 SCC 262.Historically, 'natural justice' has been used in a way 'which implies the existence of moral principles of self-evidence and unarguable truth'. In course of time, judges nurtured in the traditions of British jurisprudence, often involved it in conjunction with a reference to 'equity and good conscience'. Legal experts of earlier generations did not draw any distinctio...
Bill in Chancery, or Bill in Equity
Bill in Chancery, or Bill in Equity, a printed or written statement of a plaintiff's case, in the nature of a petition to the Court, praying for some redress.For the descriptions of the several bills, see their distinctive names, as PEACE, BILL OF.Bills are now abolished, and all actions in the High Court are now commenced by writ of summons, followed in certain cases by a statement of claim (R.S.C. 1883). See STATEMENT OF CLAIM; WRIT OF SUMMONS; and PLEADING....
Equity of redemption
Equity of redemption. Before 1926 the equitable estate or interest left in a person after he had mortgaged his property. Now the right to call for a reconveyance of a legal estate or of an equitable interest in property from the mortgagee on payment of principal, interest and costs. A mort-gagee, although he has become absolute owner of a legal estate in the mortgaged property, on account of the breach of the condition for repayment of the loan within the strict time, is nevertheless compelled to reconvey the legal estate to the mortgagor, who applies to redeem it, on payment of the principal, interest, and costs, Equity treating the breach of the condition as a penalty, and the retention for the mortgagee's own benefit of that which was intended simply as a pledge, as contrary to substantial justice.The right or equity of redemption is an essential attribute of a mortgage; it is inherent in the thing itself, and any provision inserted in the mortgage to defeat the right is void as a '...
court of equity
court of equity often cap C&E : a court having jurisdiction over suits in equity and administering justice and providing remedies according to the rules and principles of equity compare court of law NOTE: Rule 1 of the Federal Rules of Civil Procedure abolishes the distinction between law and equity, and therefore there are no longer courts of equity in the federal system. ...
Owner's equity
Owner's equity, is the residual claim of the owners of the business on its assets after recognition of the liabilities of the business. Owner's equity repre-sents the amounts contributed by the owners to the business, plus the accumulated income of the business since its formation, less any amounts that have been distributed to the owners, Accounting and Finance for Lawyers in a Netshell, Charles H. Meyer, 4 (1995).Means the aggregate of the owners' financial interest in the assets of a business entity; the capital contributed by the owners plus any retained earnings. Also termed (in a corporation) shareholders' equity; stockholders' equity, Black's Law Dictionary, 7th Edn., p. 1131....
equity court
equity court : a court with equity jurisdiction : court of equity ...
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