Law of Equity.

INTRODUCTION

The law of equity encompasses a body of rules, principles and doctrines initially unquestionable by the Court of Chancery, broadly aimed to address the conflicts identified with provide rules of justice that were inflexible and often harsh on event individuals in specific situations and standards of fairness and conscience. It is discretionary and not base on precedent so this jurisdiction has continually changed and substantial by judicial decision of the substantive principles of law and since its whim .

Relief against forfeiture is except one of the substantive doctrines of equity that has evolved.

RELIEF AGAINST FORFEITURE

Relief against forfeiture, in general terms is the honest jurisdiction to prevent one populace from forfeiting what in fair dealing belongs to someone else, by winning advantage of a breach from which he is not commensurately and irreparably damaged... . Historically, this jurisdiction was limited to relief against the terms of penal bonds but now applies commonly to proprietary interests and has been extended to possessory interests . Circumstances in which relief against forfeiture of an interest in property may arise is in the context of makes for the sale or get of land. Relief of forfeiture of personal interests to which one party is empower may arise where a right of occupancy exists under(a) a license agreement.

UNDERLYING PRINCIPLES

The maxims of equity are significant commutation principles that underlay all equitable remedies, but it is the unconscionable dispense of a person that has evolved to determine equities jurisdiction to relieve against forfeiture.

A centre/agreement may provide that on termination, the promisee may remark or forfeit money paid under the contract or the goods or interest in land of the promisor. fair-mindedness has an ancient jurisdiction to relieve against forfeiture on such(prenominal) grounds as fraud, accident or mistake. The normal equitable remedies...

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