6. EQUALITY IS EQUITY Meaning Plato defined that “If you cannot find any other, equality is the proper basis.” This maxim is also explained as “equity delighteth in equality”, which means that as far as possible equity would put the litigating parties on an equal level so far as their rights and responsibilities are concerned. Justice Fry said, “When I say equality, I do not mean equality in its simplest form, but which has been sometimes called proportionate equity.” Application and cases Application of this maxim can be understood from the following: i) Equity’s dislike for joint tenancy and presumption of tenancy-in-common ii) Equal distribution of joint funds and joint purchases iii) Contribution between co-trustees, co-sureties and co-contractors iv) Ratable distribution of legacies v) Marshalling of assets
Posted on: Mon, 15 Dec 2014 09:46:52 +0000
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