Chapter 16: The Triumph of Equity

Immanuel Kant

The liberal view of law, as expressed by ________ in his Philosophy of Right (1797), is that the law must be well defined and equally available to all.

mortgagor

The ________ retains the beneficial use of the property and therefore is analogous to the beneficiary of a trust.

testator

If the ________ establishes a trust, the property remains in the hands of the trustee to distribute according to the terms of the trust.

common law

The ________ operated by granting a judgment, usually for an amount of money, called damages.

three party

The trust is a(n) ________ transaction.

judicial prudence

The origins of equity- drawn mainly from Roman law, canon law, and ________- are still debated, but by the fifteenth century it was a firmly established jurisdiction and body of law that competed with the common law.

Equity

________ supplied relief for fraud and for the reformation of contracts after mistakes had been made in the drafting.

Equity functions

________ by commanding a specific act, such as specific performance of a contract.

The purpose of equity was to correct the common law in the way that Aristotle described the idea of epieikeia

"The law is always a general statement, yet there are cases which it is not possible to cover in a general statement."