Equitable Principles and Institutions

Added on -2020-02-05

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EQUITY AND TRUST
TABLE OF CONTENTSEQUITY AND TRUST...................................................................................................................1INTRODUCTION...........................................................................................................................3Equity doctrines...........................................................................................................................3History of principle of equity and development of equitable institutions...................................5Equitable principles and institutions............................................................................................7Application of equitable principles to give facts and situation ..................................................8CONCLUSION................................................................................................................................9REFERENCES................................................................................................................................9
INTRODUCTIONIn the current report case scenario of controversy between bank, financial advisers andinsurance agents is discussed in detail. In this regard different doctrines are analyzed andrelevant one are applied on the present case. In middle part of the report, remedy of equity andlaw of trust are discussed briefly. Along with this, history of principles of equity anddevelopment of equity institutes are discussed in detail. At end of the report, application ofequitable principles on the business case is done. In this way entire research work is carried out. Equity doctrinesIn the current time period controversy is going on between the banks and advisors. This isbecause banks set huge target for their advisors and they have to achieve at any cost. In order toachieve the target advisors give wrong advises and information to the investors and due to thisreason customers face huge loss on investment. Due to this reason banks suspended theremultiple financial advisors. In return advisors blame the business firm for such condition andstate that they have no choice and due to this reason in order to achieve the target they salewrong products to the customers. Principle of equity apply here because it is not fair to put hugepressure on the employees just in order to achieve the target. Due to such kind of attitude of bankcustomers lose their money in the market. Following are the equity doctrines that can be used tosolve the controversial issue.Equitable conversion: It is the doctrine under which when a contract is signed betweenthe buyer and seller of the property. It must be noted that many time contract is signedbetween the buyer and seller of goods under which one entity promise other one thatspecific asset will be transferred to the buyer on later date (Dietrich, 2010). From the timeof signing of contract till transfer of property buyer and seller both owned the title of theproperty. In case any damage happened to the property buyer and seller both areresponsible for loss. Estoppel: Estoppel refers to the legal doctrines that are grouped collectively. Under thisdoctrine one is prevented from making declarations that are opposite to his position thatwas on any matter before court (Wang and Welker, 2011). It can be said that if anindividual give certain statement then same cannot move backward from its decisions. Itcan be said that estoppel is the one of the main doctrine of the law of equity.

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