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30 Cards in this Set
- Front
- Back
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Three Steps to Approach Equity Problem
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- are the general requirements for equitable relief satisfied
- are any specific requirements for the particular equitable remedy satisfied - are there any defenses |
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Two reasons to seek equity
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- legal remedy is inadequate
- equitable relief is feasible |
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Three most common remedies
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- injunction
- specific performance - recission and reformation |
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Defenses (4)
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- unclean hands
- laches - impossibility or undue hardship - freedom of speech |
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Requirements where legal remedy may not be adequate (5)
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- subject matter of litigation is unique or rare
- damages are speculative or uncertain - multiple lawsuits required - where insolvency of D makes judgment at law uncollectable - where irreparable harm results from D's conduct (not fully compensatable by $$$) |
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When court will deny mandatory relief (4)
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- application of taste
- skill complex, extensive supervision - act is beyond D's ability - personal service contracts |
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Is EQUITABLE RELIEF ALWAYS DISCRETIONARY?
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YES
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Two musts to obtain injunctive relief
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- equitable remedy feasible
- no defense |
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Torts where injunctions are normally available (3)
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- continuous trespass to land
- conversion of unique chattel - prevent continuation of a wrongfully instituted suit |
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Injunctions are SOMETIMES available (7)
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- eliminate nuisance
- prevent waste - prevent fraudulently obtained judgment - inducing breach of contract or refusal to deal - use of competitor's trade secret - trademark infringement - copyright infringement |
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Injunctions generally NOT available (3)
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- defamation
- trade libel - publication of pvt facts (not in NC) |
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Two types of temp injunctive relief
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- interloquitory inj
- TRO |
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Two steps to obtain temp injunctive relief
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- necessary to preserve status quo pending trial in order to prevent irreparable harm AND
- P must show liklihood at prevailing at trial |
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Injunction Bond (NC)
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limits damages which may be recovered
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Does civil contempt fail under the underlying injunction fails?
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YES
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Civil Contempt (2)
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- compensate P for damages caused by D's disobedience of ct order
- coercive (compel D's compliance with ct order) |
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Criminal Contempt (2)
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- direct - occurs in front of judge
- indirect - outside ct (testimony) |
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To obtain specific performance you must show (3)
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- valid contract
- all contractual conditions fulfilled - mutuality of remedy exists |
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Contract Terms (4)
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- identity of parties
- price - time and manner of payment - description of subject matter including material terms |
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Time is of the Essence Clause is ignored (4)
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- tardiness is di minimus
- loss to other party is slight - undue hardship to forfeiting party OR - equity goes out of its way to find a waiver |
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Seller of land must convey marketable title - equity will not grant specific performance UNLESS (2)
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- deficiencies are minor and performance may be granted with a reasonable reduction in price
- buyer waives |
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Equitable Conversion
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BUYER has risk of loss if bldg is damaged before closing (not NC)
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Uniform Vendor Purchaser Risk Act (NC)
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seller has the risk of loss until possession is delivered
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Definition of Recission
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Recission is a remedy by which a voidable contract is put to an end and the parties are treated as thought it had never been made
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Definition of Reformation
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Reformation treats the contract as valid and changes a writing setting forth or implementing the agreement to conform with the originally intended agreement
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Does mutual mistake of material fact qualify for recission?
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yes
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What might lead to reformation (3)
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- scriveners error
- unilateral mistake coupled with fraud - misrepresentation (innocent or fraudulent) |
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Constructive Trust
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A constructive trust imposes an equitable duty on a D to convey property acquired under certain circumstances to the rightful owner.
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Equitable Lien
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An equitable lien operates as a charge or encumbrance on property and is available where the P can trace misappropriated funds or other property to its product
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A person holding an equitable interest in property, such as through a constructive trust or equitable lien, cannot enforce that interest against...
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BFP
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