Equity in UK Law

Leading Cases
  • Westdeutsche Landesbank Girozentrale v Islington London Borough Council
    • House of Lords
    • 07 Junio 1996

    But the proprietary interest which equity is enforcing in such circumstances arises under a constructive, not a resulting, trust. Although it is difficult to find clear authority for the proposition, when property is obtained by fraud equity imposes a constructive trust on the fraudulent recipient: the property is recoverable and traceable in equity.

  • Federal Commerce & Navigation Company Ltd v Molena Alpha Inc. (Benfri, Lorfri, Nanfri)
    • Court of Appeal (Civil Division)
    • 18 Abril 1978

    We have to ask ourselves: What should we do now so as to ensure fair dealing between the parties? It is only cross-claims that arise out of the same transaction or are closely connected with it. And it is only cross-claims which go directly to impeach the plaintiff's demands, that is, so closely connected with his demands that it would be manifestly unjust to allow him to enforce payment without taking into account the cross-claim.

  • Twinsectra Ltd v Yardley
    • Court of Appeal (Civil Division)
    • 28 Abril 1999

    In the latter case, the transferor may elect whether to avoid or affirm the transaction and, until he elects to avoid it, there is no constructive (resulting) trust; in the former case, the constructive trust arises upon the moment of transfer.

  • Boscawen and Others v Bajwa and Others ; Abbey National Plc v Boscawen and Others
    • Court of Appeal (Civil Division)
    • 10 Abril 1995

    Equity lawyers speak of a right of subrogation, or of an equity of subrogation, but this merely reflects the fact that it is not a remedy which the court has a general discretion to impose whenever it thinks it just to do so. The equity arises from the conduct of the parties on well-settled principles and in defined circumstances which make it unconscionable for the defendant to deny the proprietary interest claimed by the plaintiff.

  • Companhia de Seguros Imperio v Heath (REBX) Ltd and Others
    • Court of Appeal (Civil Division)
    • 20 Julio 2000

    In my view the authorities cited by Mr Gross and the broad principles set out in the above quotations support the submission that equity would have taken the view that it should apply the statute by analogy to a claim for damages or compensation for a dishonest breach of fiduciary duty.

  • Tinsley v Milligan
    • House of Lords
    • 24 Junio 1993

    The doctrine of locus poenitentiae therefore demonstrates that the effect of illegality is not to prevent a proprietary interest in equity from arising or to produce a forfeiture of such right: the effect is to render the equitable interest unenforceable in certain circumstances. The effect of illegality is not substantive but procedural.

  • Warner Bros. Records Inc. v Rollgreen Ltd
    • Court of Appeal (Civil Division)
    • 20 Diciembre 1974

    Where there is a contract between A and B, and A makes an equitable but not a legal assignment of the benefit of that contract to C, this equitable assignment doesnot put C into a contractual relation with B; and, consequently, C is not in a position to exercise directly against B any right conferred by the contract upon A.

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Legislation
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Books & Journal Articles
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Law Firm Commentaries
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Forms
  • Chapter BKLM379000
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    .... . . Paragraph 27 of Schedule 19. The starting point for determining the chargeable equity and liabilities of the UK branch will be the equity and liabilities shown within the accounts of the foreign bank. The equity and liabilities are ......
  • Chapter BKLM154100
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    .... . . Paragraph 6(2) of Schedule 19. To identify what equity and liabilities of the group or entity should be treated as chargeable equity and liabilities the following should be considered. For a UK banking ......
  • Chapter BKLM323050
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    ......In these groups the bank levy is only chargeable on the sum of the chargeable equity and liabilities of any banking operations (UK resident banks, relevant foreign banks and banking sub-groups) that form part of a non-banking group. ......
  • Chapter INTM517030
    • HMRC Guidance manuals
    • Formularios de Derecho Civil, Mercantil y Registral
    .... . . For thin cap purposes, the equity of a company includes the issued ordinary share capital, the retained profits of the company and other reserves (see provisos below) attributable to ......
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