StudentShare solutions
Got a tricky question? Receive an answer from students like you! Try us!

Essay example - Victorian Equity Law

Only on StudentShare
Pages 9 (2259 words)
The statement "Following the High Court's decision in Garcia v National Australia Bank Ltd1, it has been suggested that different principles are applicable to the setting aside of securities given by wives to support their husbands' borrowings, on the one hand, and securities given by non-wives to support third party borrowings, on the other", is accurate and the law of equity under a) doctrine of undue influence and b) Special Wives Equity justifies the differences…

Extract of sample

This position arises in case of relationships between solicitor and client, parent and child, wife and husband which is known as fiduciary relationship, where trust and confidence exists. In this case, undue influence is presumed by law unless until it is proved contrary2.
The presumption of undue influence is recognised by court of law basically where fiduciary relationship exists believing that in fiduciary relationship one party succeeds in exerting unfair influence or undue influence over the other. The court of law recognises relationship between employer and junior employee, doctor and patient also to bring into the ambit of presumption of undue influence3.
In fiduciary relationship between wife and husband the creditor has a bounden duty before obtaining guarantee from the wife where wife is not a benficiary, is that a) to take reasonable steps to establish that her consent had been properly obtained, b) to discuss the facts with her c) to warn her of the consequences d) to suggest to take independent legal advise. Failing which, the transaction could be set aside by court of law4.
Equity law protects innocent persons from undue influence by giving an opportunity to rescind the contract executed under ...
Download paper
Not exactly what you need?

Related papers

The common law and equity
Equity's impact remains as strong as ever and traces down its foundation to Norman Conquest. Equity to the layman means fairness and justice, but in the legal context its meaning is much more strictly defined. There are rules of equity which must be obeyed. Like any common law, its development may appear equally inflexible and rigid1. Its rights gave foundation to many modern laws and the remedies…
14 pages (3514 words)
Equity and Trusts Law
A fixed trust will be automatically void unless each beneficiary could be identified. Whereas with a discretionary trust a House of Lords decision held that the test was different: can it be said with any certainty that a particular person is or is not a member of the class of beneficiary It is therefore of concern that the financial advisors at Rigby, Jolly and Pinnar (RJP) are mixing fixed and…
5 pages (1255 words)
English Law Equity and Trust Coursework
Generally the beneficiary gets interest and dividends on the trust assets for a set number of years.…
10 pages (2510 words)
Differences between law and equity
It mainly came out of feudal customs. On the other side Equity came from Roman law and Canon Law.…
4 pages (1004 words)
Equity and Common Law College Essay
The courts of law in medieval times enforced the law of the king. The range of claims that these courts agreed to hear gradually became more restricted and painfully technical, and many deserving plaintiffs were denied a hearing. A plaintiff's alternative was to send a petition directly to the king, asking for mercy and conscience to decide the matter. The king regularly delegated these petitions…
7 pages (1757 words)
Business Law - Equity
People's only choice was to petition to the King. Later on the system was changed and then the people's petitions were sent to the Lord Chancellor to deal with. [1] [5]…
4 pages (1004 words)