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27 votes

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

Equitable remedies such as disgorgement (recovery of profits) are typically subject to equitable bars to recovery such as laches. Laches reflects the maxim that "equity aids the vigilant and not ...
Jen's user avatar
  • 59.5k
15 votes
Accepted

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

Not only does Bob have an unjust enrichment cause of action to demand that the recipient return the money, but the recipient can be criminally prosecuted if they refuse. Refusing to make reasonable ...
Acccumulation's user avatar
13 votes

Can non-US citizens own equity in US companies?

Yes, non-US citizens can own equity in US companies. To be specific: You do not have to be a citizen or resident of the US to own securities in a company incorporated in the US.
Shazamo Morebucks's user avatar
10 votes

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

united-states Is a mistakenly sent bank transfer a cause for unjust enrichment? Yes. This is one of the paradigmatic, textbook fact patterns justifying an unjust enrichment claim.
ohwilleke's user avatar
  • 221k
9 votes
Accepted

What are "equity" and "equitable remedies"?

In legal systems descending from English law, the term equity refers to an aspect of those legal systems that has origins distinct from positive law and the traditional common-law writs. Equity traces ...
Jen's user avatar
  • 59.5k
8 votes

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

canada united-kingdom equity A court exercising its equitable jurisdiction may disallow a minor from impeaching the validity of a contract on the grounds of minority if the minor acted fraudulently: ...
Jen's user avatar
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7 votes
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How can a court in the U.S. overcome eBay Inc. v. MercExchange, LLC and order mandatory injunction?

1.a) Is there any states in the U.S. where stolen property is statutorily (and/or by case law) mandated to be returned to the legal owner from an equitable owner in the above scenario or in cases ...
Dale M's user avatar
  • 213k
6 votes
Accepted

What does equitable mean, especially in special education law?

In this context, the phrase "there are no equitable considerations that would require the court to reduce or deny reimbursement for the parents" largely refers to defenses to claims arising under the ...
ohwilleke's user avatar
  • 221k
6 votes

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)

Controlling shareholders of a company have a fiduciary duty to other stockholders (see the section on controlling stockholder/company in the reference). That is, their decisions must be guided by the ...
Charles E. Grant's user avatar
6 votes
Accepted

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)

More of a comment than an answer, but I do need the extra space: Your numbers make no sense If the company is worth $1,000,000 and you get paid $100,000 and equity, you should still own 90% of the ...
SJuan76's user avatar
  • 5,879
6 votes

What are "equity" and "equitable remedies"?

united-states @Jen does a good job of recapping the historical antecedents of equity and some of its most notable features. I'll add a few general observations and some additional observations ...
ohwilleke's user avatar
  • 221k
5 votes

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

The equitable defense of laches is not applied the same way in every jurisdiction. Some jurisdictions apply it only to equitable claims. Others also apply it to claims arising in law or by statute. A ...
ohwilleke's user avatar
  • 221k
5 votes
Accepted

What makes a shareholder a "shareholder of record"?

Companies have a registry of their shareholders. Anyone with at least one share registered in their name is a shareholder of record. However, the vast majority of people who consider themselves "...
cpast's user avatar
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5 votes
Accepted

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

While the period of time before the fusion of law and equity in 1873 is quite long, and there were many changes to the law during it, I think it's reasonable to look at the earlier part of the ...
alexg's user avatar
  • 7,000
4 votes

What does equitable mean, especially in special education law?

What we commonly refer to as the Common Law system, which originates from England and is the system used in most former English colonies including the USA, is actually two distinct strands of law: law ...
Dale M's user avatar
  • 213k
4 votes
Accepted

Were two black men legally removed from a Philadelphia Starbucks?

Were two black men legally removed from a Philadelphia Starbucks? Maybe - its complicated. The crime of trespass in Pennsylvania relevantly involves: 3503 (b) Defiant trespasser.-- (1) A person ...
Dale M's user avatar
  • 213k
4 votes

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

Laches Laches is an equitable defense. It therefore depends on there having been an unreasonable delay, which harmed the party asserting the defense. What is reasonable is determined by the court in ...
David Siegel's user avatar
4 votes

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

united-states Contract fraud requires that a representation was made, it was false, the defendant knew at the time that the representation was false, and intended that the plaintiff rely on it, in ...
user6726's user avatar
  • 215k
4 votes

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

Courts applying rules of equity follow precedent and principles of stare decisis. They look to previous decisions for guidance about the equitable principles, the tests for the particular remedies, ...
Jen's user avatar
  • 59.5k
4 votes
Accepted

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

Differently It is not correct to say that English common law and equity was merged in the judicial reforms of the 1870s; they remained distinct areas of law. What changed is that they were ...
Dale M's user avatar
  • 213k
3 votes
Accepted

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

Yes. It is fairly common for there to be one owner at law, but another person who has a beneficial interest - such as a long-term cohabiting partner. This may arise because the parties set it up that ...
urnammu's user avatar
  • 46
3 votes
Accepted

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

Background The general common law rule in the U.S. is that someone who transfers property can not give the person receiving the transfer more rights than they have themselves. But, usually, as set ...
ohwilleke's user avatar
  • 221k
3 votes

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

australia Companies can have different classes of shares with different rights: rights to dividends, voting, distribution of assets on winding up etc. Basically, it’s pretty much completely ...
Dale M's user avatar
  • 213k
3 votes
Accepted

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

The DoJ is the USA Or, more precisely, the attorney general (the head of the DoJ) is the member of the cabinet that represents the United States Government in legal matters. The US government is a ...
Dale M's user avatar
  • 213k
3 votes
Accepted

Legal status of an ongoing situation pending an appeal

Ohwilleke's answer (i.e. 'there isn't a simple answer') covers the general principles clearly. But for your specific situation (England and Wales, appeal to the High Court Chancery Division or Court ...
Tim Lymington's user avatar
3 votes

Which companies need to comply with Sarbanes Oxley?

Which Companies Are Covered By SOX? When exactly does the Sarbanes-Oxley Act apply to a company? The provisions of the Sarbanes-Oxley Act (a.k.a. SOX) sometimes apply to "issuers" (i.e. ...
ohwilleke's user avatar
  • 221k
3 votes

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)

First be aware they don't have to liquidate the company. They can just sell its business as a going concern or sell its assets, leaving the company still there, but (in effect) a pointless shell. Or ...
Stilez's user avatar
  • 3,189
3 votes

Are writs rooted in equity?

No A writ is simply an order issued under legal authority for someone to do or not do something. Today the word is usually associated with orders by a court but historically, they applied to ...
Dale M's user avatar
  • 213k
3 votes
Accepted

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

This is a use of the term "estate" to simply mean something like "extent of property interest." It is not a common use, and somewhat archaic, but not unheard of. The distinction ...
Jen's user avatar
  • 59.5k
2 votes

What does upon conversion mean?

Sometimes people loan money to a company in a convertible debt transaction. This means that if a certain event happens a certain amount of debt loaned to the company by an investor is converted into ...
ohwilleke's user avatar
  • 221k

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