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Questions tagged [equity]

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1 answer
38 views

What did Arden LJ mean by "estate", in "legal estate in the shares" of an unlimited corporation?

I am baffled by Arden LJ (as she then was) at para. 59 in Pennington & Anor v Waine & Ors [2002] EWCA Civ 227. So, too, in Re Rose, Rose v IRC the Court of Appeal held that the beneficial ...
8 votes
2 answers
4k views

Is a mistakenly sent bank transfer a cause for unjust enrichment?

Bob meant to send a bank transfer to to his friend Boris Johnson, but instead sent it to Doris Johnson. Does he have a cause of unjust enrolment against the latter?
-2 votes
1 answer
124 views

How did international/colonial jurisdictions deal with the combination of law and equity?

It seems to me based on preliminary consideration that as the majority of the British empire gained independence from colonial rule after WWII, the U.S. is perhaps at least somewhat unique in gaining ...
-1 votes
2 answers
86 views

Are writs rooted in equity?

Another answer I came across recently mentioned that orders for specific performance ie mandatory injunctions formerly called mandamus were writs. Conversely so were other writs such as certiorari. ...
2 votes
1 answer
72 views

What were practitioners of/at (?) Equity called when the courts were separate?

Back when Equity was separate from Law, were practitioners of Equity qualified to address the courts of chancery called “lawyers”? Or were they called “equiters” or some other different term? Given ...
9 votes
2 answers
1k views

What are "equity" and "equitable remedies"?

What is equity and/or an equitable remedy? How does it relate to the common law?
-3 votes
2 answers
78 views

How do equitable remedies not violate the precept of stare decisis? [closed]

I understand equity to be a sort of royal veto or override of the natural results of the legal courts on the basis that to allow a certain candid result to prevail -not that it was reached by a ...
22 votes
1 answer
6k views

Is it legal to intentionally wait before filing a copyright lawsuit to maximize profits?

Let's say someone uses my intellectual property without my consent and uses it for commercial purposes. Can I wait until they've made many millions of dollars off of my work, so that I can sue and ...
9 votes
3 answers
3k views

If a minor enters a contract without the other party knowing about the age, and then the minor breaks a term, is it fraud?

A minor who signs a contract can void it at any time, which might cause damage to the other party. Let's consider this scenario: A minor signs a contract with an adult online with neither party ...
0 votes
1 answer
81 views

Why did the strict rules of evidence result in a debt being due twice, even though common law dismissed this as absurd?

As "the common law held that a debt was due twice . . . [that proposition] would have been dismissed as absurd", why wasn't this the end of the story for the debtor? Why was this "the ...
0 votes
1 answer
89 views

Is a Request to Stay Case Pending Appeal Considered an Equitable Remedy in the USA?

A request for injunctive relief is an equitable remedy and courts have broad discretion in granting or denying it. Is a request to stay case pending appeal also considered an equitable remedy?
5 votes
1 answer
144 views

What happens to offset accounts when the lender becomes insolvent?

In Australia and the United Kingdom, it is common for home loans to come with an offset account. The balance of the account is “offset” against the loan when calculating interest, so the borrower ...
1 vote
2 answers
115 views

In the U.K., is rescission due to mere misrepresentation an entitlement? Or is it a discretionary equitable remedy?

If a party to a contract has made a misrepresentation (including by omission), but not fraudulent misrepresentation, is this sufficient to entitle the innocent party to rescind the contract? Is it ...
0 votes
1 answer
146 views

If you build around 75% of a house on a neighboring lot, who has permission to live in that house?

I'm sure that long ago I read something about a building built where a percentage of that building was on the footprint of a neighboring lot, but I'm struggling to find information about the topic. ...
0 votes
3 answers
265 views

How can you prevent someone from buying out your company and dissolving it the next day to screw you over (you have equity in the company)

I'm thinking about a hypothetical scenario. Let's say someone wants to buy out your company (LLC if it matters) for $1 million. Let's say you annoy the buyers by requesting some equity in the company, ...
11 votes
2 answers
1k views

Is laches an applicable defense for a debt that was never contractually agreed upon in writing?

A tenant has a parking spot in their building for a period of 8 years and was never billed for it by the management. Management discovered their book keeping error and has turned around to ...
1 vote
1 answer
56 views

Trading equity with cash without Notary public

Three co-founders A, B, and C come together to build a project (startup) and sign a founders' agreement. After few months, co-founder A would not want to continue, but based on the original founders' ...
3 votes
1 answer
783 views

"Equity's darling": How do U.S. courts overcome bona fide purchasers?

This is a follow-up question to this question and this question; the accepted answers to each appear to conflict the concept of bona fide purchasers. According to a Wikipedia page on the topic: "...
1 vote
1 answer
193 views

How can a court in the U.S. overcome eBay Inc. v. MercExchange, LLC and order mandatory injunction?

Law* In Ebay Inc. v. Mercexchange, L.L.C., 547 U.S. 388, 126 S. Ct. 1837 (2006) (“EBay”), the Court restated that: “The traditional four-factor test applied by courts of equity when considering ...
1 vote
3 answers
272 views

Does the Clean Hands doctrine prevent undoing illegal contracts?

Bob knowingly pays Rob for doing something illegal (handing over an item that Rob has stolen, murdering Alice etc. — you name it). Both are caught and sent to jail. Now, will Rob legally own the money ...
1 vote
0 answers
57 views

Is an LLC Membership Certificate Legally Binding?

I'm wondering if an LLC Membership Certificate that has been signed by the owner of the company and promises a certain amount of stake in the LLC is legally binding/would hold up in court if there was ...
2 votes
2 answers
118 views

Is it possible to have more joint tenants in equity than the number of joint tenants in law?

Dealing specifically with England and Wales: Is it possible for there to be more joint tenants in equity for a specific property than the number of joint tenants in law? For example, if A, B, C ...
1 vote
2 answers
414 views

Why does the absolute legal owner of property also have a beneficial interest in it, without any equitable interest?

Why does the absolute legal owner of property also have a beneficial interest in it? Because the author's distinguishing "beneficial" from "equitable", then what does the author ...
3 votes
1 answer
121 views

What happened non-delegation of fiduciary duty?

I've read several phrases; they seem to have similar intent but translate somewhat differently: at common law, trustees had a fiduciary duty not to delegate tasks they can perform themselves. ...
3 votes
1 answer
142 views

Are there any common law jurisdictions outside the United States which maintain separate Courts of Equity?

It is well know that some jurisdictions in the United States, most prominently Delaware, maintain separate equity courts (Courts of Chancery), as formerly existed in England prior to the Judicature ...
1 vote
1 answer
209 views

UK - Can contracts override property deeds

If a property is held 50/50 on the deed by two people, can a contract be written up to adjust the ownership based on further conditions? Is there a specific name for this? For Example: A home is ...
2 votes
1 answer
393 views

What makes a shareholder a "shareholder of record"?

In public companies filling some reports with the SEC (10K for example), there is a mention of the number of shareholders of record. Example: "As of April 20, 2021, we had approximately 40 ...
0 votes
1 answer
75 views

Can Company Profits Be Split Equally Amongst Two Partners With Different Shares?

I intend to create an 'inc.' moral entity in Quebec, Canada (corporation). Can I own 75% of the shares while splitting profit 50/50 with my partner? (In a legally binding manner)
0 votes
1 answer
100 views

By what laws can the DoJ be the plaintiff for breaking confidentiality of the First Lady?

Quoting Techdirt: On Tuesday, the Justice Department sued Stephanie Winston Wolkoff, a former close friend of the First Lady, Melania Trump, who recently published a book about her relationship with ...
0 votes
3 answers
186 views

How exactly is founder stock created?

Suppose that I found a C corporation, Superlative Widgets Inc., within the U.S. I would like to both fund the corporation and issue myself 100,000 shares in a way that avoids or minimizes my personal ...
2 votes
5 answers
660 views

Understanding incentive stock options in a consulting contract for a startup

I have a verbal agreement with a pre-seed startup to do some work for them on a part-time, consulting basis. We had agreed to some cash and a specific equity percentage and vesting schedule (x% over y ...
1 vote
3 answers
326 views

Can a founder 'gift' pre-existing assets to a company after hiring a cofounder?

I live in the U.S. Suppose that I create a company with a deposit of $10,000 and want to bring in a cofounder for an equity stake of 15% in this company. I have personal assets like computer code, ...
7 votes
1 answer
3k views

Can non-US citizens own equity in US companies?

Can a non-US citizen who has never been to the US own equity in a company that is only incorporated in the US?
1 vote
1 answer
225 views

What does upon conversion mean?

What does it mean when an investor say "I will give you $100k in exchange for 10% equity upon conversion"? What does upon conversion exactly mean in layman's terms?
2 votes
2 answers
176 views

Legal status of an ongoing situation pending an appeal

Apologies for the title. I could not think of a concise and accurate way to phrase it. I will phrase this question in terms of charitable trusts, but my question is really about the general principle....
0 votes
1 answer
1k views

Which companies need to comply with Sarbanes Oxley?

Some companies issue private offerings that are exempt from registration. Some register with the SEC ahead of a public offering. Some become reporting companies. When exactly does the Sarbanes-Oxley ...
3 votes
1 answer
1k views

Were two black men legally removed from a Philadelphia Starbucks?

Recently, two black men who were not patronizing a Starbucks - but waiting inside for a friend - were arrested for trespassing. Starbucks Philadelphia arrest: CEO apologizes to two black men arrested ...
2 votes
1 answer
84 views

Can an American own part of a Canadian-based corporation?

Combination of New York State (USA) and Ontario (CAN) jurisdictions here. If a New Yorker/American wishes to take partial ownership (equity) in an Ontario-based corporation, are there any special ...
1 vote
1 answer
156 views

Software Developer in a Startup Company

I'm a software developer who developed a SAAS (software as a service) system for a startup company. I can't provide any additional details into the company since it's under an NDA but they shouldn't ...
1 vote
0 answers
56 views

Equity compensation for a foreign worker

Can an employee working from India get equity compensation from the employer who is registered in the USA? The employee does not hold a work visa in the USA and the employer does not have a registered ...
4 votes
2 answers
352 views

What does equitable mean, especially in special education law?

I understand equitable as it's used in ordinary speech, but not in the legal sense, apparently. Here is some legal text I'm having trouble understanding: "In order to have a chance at ...