Chapter 1
Historical Background of Equity
Equity As An Integral Part of Legal System
Definitions of Equity : As Propounded by the Jurists
Subject Matter of Equity
Equity—Nature and Scope of
Chapter 2
ROMAN, ENGLISH AND INDIAN LEGAL SYSTEMS
AND CONCEPT OF “EQUITY”
Roman Law and Equity
English Law and Equity
Similarities between Roman and English Equity
Difference between Roman and English Equity
Indian Legal System and Equity
Role of English Equity in the Indian Legal System
Chapter 3
ORIGIN AND DEVELOPMENT OF EQUITY
UNDER VARIOUS LEGAL SYSTEMS
Origin and Development of Equity In Rome
‘Praetor’ and outbreak of Equity
Extension of Roman Kingdom and Investment of Equity
Origin and Development of Equity in England
1. Medieval period
Chancellor
Powers of the Chancellor to Issue Writ
Second Statute year 1285 of West Minister
Petition Before the King and Extension of the Chancellor’s
Jurisdiction
Edward-II’s Declaration, 1334 and Ratification of Jurisdiction of the Chancellor
Edward-III’s Declaration, 1349 and Extension of Chancellor’s Jurisdiction
Origin of Equity’s Court in 1474
Application of‘Uses’ and Popularity of Equity
Jurisdiction of Equity During 16th Century
Position of Equity During 17th Century
18th Century—Climax of Equity
2. Changing Period
3. Modern period
Judicial System under the Judicature Acts
Origin and Development of Equity in India
Origin of Equity under the Hindu Law
Mohammedan Law and Equity
Investment of Equity and Foundation of East India Company
Statutory Recognition of Equity—Incorporation of Equity in Various Enactments
Chapter 4
CLASSIFICATION OF EQUITY JURISDICTION
Exclusive Jurisdiction
Concurrent Jurisdiction
Auxiliary Jurisdiction
Development of Auxiliary Jurisdiction
Effect of Judicature Acts
Criticism
Chapter 5
EQUITY AND COMMON LAW
Shortcomings of Common Law
Fulfilment of Common law by Equity
Chapter 6
Judicial Administration before the Judicature Act
Judicial Administration under The Judicature Acts
Object of Judicature Acts
Changes and effects carried out by the Judicature Acts
Similarities and Contradictions of Common Law and Equity :
Maitland’s View
Hainbury’s View
Chapter 7
AND INTERESTS
Ongin and Development of Equitable Interests
Difference between Legal Right and Equitable Right
Equitable Right, whether right in rem or right in personam
Right of bona fide buyer in lieu of compensation without notice of trust
The Doctrine of Notice
Kinds of notice
Applicability of Doctrine of Notice
Classification of Equitable Rights
Chapter 8
1. Equality is equity
Maxim—‘Equality is equity”—Applicability of Ingredients of Marshalling
2. He who seeks equity, must do equity
3. Equity follows the law
Applicability of Maxim : Indian Law
4. Equity acts in personam
5. Equity will not suffer a wrong to be without a remedy
Evolution of Equitable Jurisdiction
Conditions to be satisfied
6. He who comes to equity, must come with clean hands
Strahan’s View
Applicability of Maxim in Indian Law
7. Equity looks to the intent rather to the form
Applicability of maxim
Application of Maxim in Indian Law
Relief against forfeiture
Relief against Redemption
8. Where there is equal equity, the law shall prevail
Indian Law : Application of
Indian Law : Application of Maxim
9. Equity looks on that as done which ought to have been done
Application of maxim
Application of Maxim in India
10. Equity imputes an intention to fulfil an obligation
Application of the maxim
Application of Maxim in India
11. Delay defeats equity
Application of Maxim in India
12. Where the equities are equal the first in time shall prevail
Application of Maxim in India
Chapter 9
Conversion
Doctrine of Conversion
Maitland’s View
Conversion and its effect
Re-conversion—Definition of—
Snell's View
Mode of Re-conversion
Chapter 10
AND ADEMPTION
Doctrine of Performance
Application of Doctrine of Performance
Doctrine of Satisfaction
Application of Doctrine of Satisfaction
Expression ‘portion’—Meaning
Distinction between ‘performance’ and ‘satisfaction’
Doctrine of Ademption
Application of Doctrine of Ademption
Distinction between ‘Satisfaction’ and ‘Ademption’
Chapter 11
Assets
Priority of Payment
Law of Administration of Assets in India
Chapter 12
AND UNDUE INFLUENCE
Mistake
Types of mistake
Equity and mistake
Mistake of fact
Kinds of mistake of fact
1. Mistake of identity of person
2. Mistake of subject matter of contract
3. Mistake of the nature of promise
Misrepresentation
Signature by misrepresentation
Fraud or misrepresentation must be cause of inducement
Fraud or misrepresentation discoverable by ordinary diligence
Distinction between ‘Fraud’ and ‘Misrepresentation’
Types of misrepresentation
Fraud and Misrepresentation
Fraud
Fraud in Equity
Application of Doctrine of ‘Fraud’ in India
What is “Fraud”
Classification of Fraud
What reliefs available against fraud
Undue Influence
Execution of settlement deed—Whether deed was obtained by undue influence
Dominating the ‘Will’ of another—Amounts to “Undue Influence”
Doctrine of undue influence—Raising of
Undue Influence in Equity
Classification of undue influence
Application of Doctrine of undue influence in India
Chapter 13
PENALTIES AND FORFEITURES
Penalty
What is penalty?
Liquidated damages
When petitioner is not entitled to refund of earnest money
Forfeiture
Forfeiture of the earnest money on the non-performance of contract
Company was definitely entitled for compensation
Lease—Expiry by efflux of time
Forfeiture of Lease
No forfeiture of lease—When can be
Chapter 14
Liens under Common Law
Kinds of Equitable Lien
Distinction between legal lien and equitable lien
Charge
Creation of Charge
Charge created by maintenance decree
Distinction between charge and mortgage
Kinds of Charge
Creating of contingent charge
Floating charge
Charge not created by operation of law
Trustee’s charge
Extinction of charge
THE DOCTRINE OF ELECTION
Election
Conditions necessary for election
Election—When arises
Benefit under Section 35 i.e. when, election necessary
Exceptions : Doctrine of Election
Application of Doctrine of Election in India
Mode of Election
Doctrine of election not available to cure an illegality
Chapter 16
No estoppel against Law or Statute
Application of Doctrine of Estoppel : Kinds of Estoppel
Estoppel by record
Estoppel by deed
Estoppel by conduct
Equitable estoppel
Chapter 17
EQUITABLE ASSIGNMENT
Kinds of chose in action
Essential element of a valid legal assignment
Equitable assignment
Notice of assignment
Public policy : Things cannot be assigned
Indian Law Relating to Assignment
Word “Immovable”—Meaning of
Chapter 18
SET-OFF
Necessary conditions for ‘set-off ‘
Set-off under Indian Law
Plea in nature of equitable set-off
Set-off—Claiming of
Kinds of “set-off”
Distinction between “Legal set-off” and “Equitable set- off”
Chapter 19
ACCIDENT
Accident: Equitable Relief
Exceptions : When Equity will not grant relief
Chapter 20
MARRIED WOMEN
Position of married woman in Common law
Position of married women in Equity
Indian Law : Position of married women
Chapter 21
Guardians and Infants
Kinds of guardians
Idiots and Lunatics
PART II
Chapter 1
History
Definition of “Mortgage”
Necessary elements to create a transfer by mortgage
Essentials of a Mortgage
1. Transfer of Interest
2. Mortgagor
3. Mortgagee
4. Mortgage-money
5. Mortgage deed
6. Specific immovable property
Distinction between Mortgage and Charge
Distinction between Sale and Mortgage
Kinds of Mortgage
1. Simple mortgage
2. Mortgage by conditional sale
3. Usufructuary mortgage
4. English mortgage
Distinction between English mortgage and mortgage by conditional sale
5. Equitable mortgage
6. Anomalous mortgage
Chapter 2
Rights of the Mortgagor
1. Right of redemption
2. Right of foreclosure
Doctrine of clog on equity
3. Equitable right to redeem
Legal and Equitable Property—Distinction between
Equitable principle of justice, equity and good conscience
Distinction between “Right to redeem” and “Equity of redemption”
4. Right to inspection and production of documents
5. Right to redeem separately or simultaneously
6. Right of usufructuary mortgagor to recover possession
Liability of a mortgagor
Mortgagor’s Power to Lease
Chapter 3
Rights of a mortgagee
(i) Right to foreclosure or sale (Section 67)
(ii) Right to sue for mortgage-money (Section 68)
(iii) Right to exercise the power of sale, if so given (Section 69)
(iv) Right to get receiver appointed, where sale is to be executed (Section 69-A)
(v) Right to appropriate the accession to the mortgaged property (Section 70)
(vi) Right to get benefit of the renewed lease of the mortgage property in lease hold (Section 71)
(vii) Right to spend money in preserving the mortgage property, if in the possession of the mortgagee (Section 72)
(viii) Right to take the proceeds of revenue sale or compensation on acquisition of the mortgaged property (Section 73)
Liabilities of A Mortgagee
1. Liabilities of mortgagee in possession (Section 76)
2. Mortgagee in possession is bound to keep clear and full account (Section 77)
3. Postponment of prior mortgagee (Section 78)
PART III
Chapter 1
Introduction
Origin of Trusts
Difference between ‘Trust’ and ‘Waqf’
Distinction between “Contract” and “Trust”
Distinction between “Agent” and “Trustee”
Chapter 2
THE INDIAN TRUSTS ACT, 1882
CHAPTER I—Preliminary
1. Short title, Commencement.
Local extent, Savings.
2. Repeal of enactments.
3. Interpretation-clause—“trust”.
CHAPTER II—Of the Creation of Trusts
4. Lawful purposes.
5. Trust of immovable property.
6. Creation of trust.
7. Who may create trusts.
8. Subject of trust.
9. Who may be beneficiary.
10. Who may be trustee.
CHAPTER III—Of the Duties and Liabilities of Trustees
11. Trustee to execute trust.
12. Trustee to inform himself of state of trust- property.
13. Trustee to protect title to trust-property.
14. Trustee not to set up title adverse to beneficiary.
15. Care required from trustee.
16. Conversion of perishable property.
17. Trustee to be impartial.
18. Trustee to prevent waste.
19. Accounts and information.
20. Investment of trust money.
20A. Power to purchase redeemable stock at a premium.
21. Mortgage of land pledged to Government under
Act 26 of 1871—Deposit in Government Savings Bank.
22. Sale by trustee directed to sell within specified time.
23. Liability for breach of trust.
24. No set-off allowed to trustee.
25. Non-liability for predecessor’s default.
26. Non-liability for co-trustee’s defaults.
27. Several liability of co-trustees.
Non-liability of trustee paying without notice of transfer by beneficiary.
29. Liability of trustee where beneficiary’s interest is forfeited to Government.
30. Indemnity of trustees.
CHAPTER IV—Of the Rights and Power of Trustees
31. Right to title-deed.
32. Right to reimbursement of expenses.
Right to be recouped for erroneous over-payment.
33. Right to indemnity from gainer by breach of trust.
34. Right to apply to Court for opinion in management of trust- property.
35. Right to settlement of accounts.
36. General authority of trustee.
37. Power to sell in lots and either by public auction or private contract.
38. Power to sell under special conditions. Power to buy-in and resell.
39. Power to convey.
40. Power to vary investments.
41. Power to apply property of minors, etc., for their maintenance, etc.
42. Power to give receipts.
43. Power to compound, etc.
44. Power to several trustees of whom one disclaims or dies.
45. Suspension of trustee’s power by decree.
CHAPTER V—Of the Disabilities of Trustees
46. Trustee cannot renounce after acceptance.
47. Trustee cannot delegate.
48. Co-trustees cannot act singly.
49. Control of discretionary power.
50. Trustee may not charge for services.
51. Trustee may not use trust-property for his own profit.
52. Trustee for sale or his agent may not buy.
53. Trustee may not buy beneficiary’s interest without permission.
54. Co-trustees may not lend to one of themselves.
CHAPTER VI—Of the Rights and Liabilities of the Beneficiary
55. Right to rents and profits.
56. Right to specific execution.
Right to transfer of possession.
57. Right to inspect and take copies of instrument of trust, accounts etc.
58. Right to transfer beneficial interest.
59. Right to sue for execution of trust.
60. Right to proper trustees.
61. Right to compel to any act of duty.
62. Wrongful purchase by trustee.
63. Following trust-property—into the hands of third persons.
64. Saving of right of certain transferees.
65. Acquisition by trustee of trust-property wrongfully converted.
66. Right in case of blended property.
67. Wrongful employment by partner-trustee of trust- property for partnership purposes.
68. Liability of beneficiary joining in breach of trust.
69. Right s and liabilities of beneficiary’s transferee.
CHAPTER VII—Of Vacating the Office of Trustee
70. Office how vacated.
71. Discharge of trustee.
72. Petition to be discharged from trust.
73. Appointment of new trustees on death, etc.
74. Appointment by Court.
75. Vesting of trust-property in new trustees.
76. Survival of trust.
CHAPTER VIII—Of the Extinction of Trusts
77. Trust how extinguished.
78. Revocation of trust.
79. Revocation not to defeat what trustees have duly done.
CHAPTER IX—Of Certain Obligations in Nature of Trusts
80. Where obligation in nature of trust is created.
83. Trust incapable of execution or executed without exhausting trust-property.
84. Transfer for illegal purpose (Section 84).
85. Bequest for illegal purpose.
86. Transfer pursuant to rescindable contract.
87. Debtor becoming creditor’s representative.
88. Advantage gained by fiduciary.
89. Advantage gained by exercise of undue influence.
90. Advantage gained by qualified owner.
91. Property acquired with notice of existing contract.
92. Purchase by person contracting to buy property to be held on trust.
93. Advantage secretly gained by one of the several compounding creditors.
94. Obligor’s duties, liabilities and disabilities.
PART IV
Definition
Kinds of Fiduciary Relations
Agent
Director of Company
Karta of joint family
Partner
Solicitor and client
Lover and sweetheart
Parent and child
Banker
Co-sharer
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