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EQUITY LAW

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA LW Exams › EQUITY LAW

  • This topic has 3 replies, 2 voices, and was last updated 5 years ago by MikeLittle.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
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  • April 17, 2020 at 9:12 am #568502
    @shirumonicah27
    Member
    • Topics: 3
    • Replies: 2
    • ☆

    what is equity in the first place?
    What exactly are damages?
    i did not quite understand the difference between rectification and rescission from the lectures?

    April 17, 2020 at 9:10 pm #568634
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23303
    • ☆☆☆☆☆

    Equity Law is a discretionary branch of English law available to the Courts where the application of Common Law would lead to an unfair result

    Damages is an award of money available through Common Law and, if damages is a sufficient remedy, damages will be awarded. It’s the BIG Common law remedy

    Rescission is restoring the parties to their original pre-contractual positions

    Rectification is saying “Let the contract continue but only after the Court has amended the contract so that it now reads as the parties intended”

    OK?

    April 22, 2020 at 3:58 pm #568959
    @shirumonicah27
    Member
    • Topics: 3
    • Replies: 2
    • ☆

    thank you very much

    April 22, 2020 at 9:00 pm #568964
    MikeLittle
    Keymaster
    • Topics: 27
    • Replies: 23303
    • ☆☆☆☆☆

    You’re very welcome

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