Equity is not a separate set of rules designed to replace the law; it exists to it. Originating in the English Court of Chancery, Equity was developed to mitigate the "harshness" of the Common Law.
Where Common Law provides damages (money), Equity provides specific performance or injunctions. 2. The Essence of a Trust Equity and the Law of Trusts
At its core, a trust is a relationship where one person holds property for the benefit of another. It effectively splits ownership into two parts: Held by the Trustee , who manages the property. Equity is not a separate set of rules
AI responses may include mistakes. For legal advice, consult a professional. Learn more AI responses may include mistakes
Did the settlor truly mean to create a trust, or was it just a gift or a suggestion?
Is it clear exactly what property is being held in trust?
Providing for children or vulnerable relatives who cannot manage money themselves. 5. The Fiduciary Duty