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Definition of contra equity?
Contra Equity refers to an equity account with a normal debit balance, where as other standard equity accounts have normal credit balances. Expense accounts are contra equity accounts because they are used to find totals for a debit of the owner's equity account.
State and explain ten maxims of equity?
Equality is equity
How do you spell equity?
That is the correct spelling of "equity" (owned value).
What is the definition of a home equity line of credit?
A home equity loan is a loan that homeowners can get based on the equity that they have in their homes. This amount is based on the value of the house and how much they have left to pay on the home loan.
Use the word 'equity' in a sentence?
Prompted by considerations of equity, the father decided to divide his estate equally among his children.
How do remedies at law differ from remedies in equity)?
Remedies at law are typically monetary compensations awarded by a court whereas remedies in equity are non-monetary remedies such as injunctions, specific performance, or rescission. Remedies at law focus on providing monetary relief for damages caused, while remedies in equity seek to enforce fairness and remedies beyond mere money damages. In some legal systems, there is a distinction between the two types of remedies, with historical roots in English common law.
What has the author Edward Domenic Re written?
Edward Domenic Re has written: 'Selected essays on equity' -- subject(s): Equity 'Foreign confiscations in Anglo-American law' -- subject(s): Confiscations, Conflict of laws 'Cases and materials on equity and equitable remedies' -- subject(s): Cases, Equitable remedies, Equity '1984 Supplement to Cases and materials on remedies' 'Teachers' manual to accompany cases and materials on remedies' 'Remedies' -- subject(s): Cases, Equitable remedies, Equity 'Appellate opinion writing' -- subject(s): Appellate procedure, Judicial opinions
What are four remedies that equity provide?
The four remedies that equity provide are injunction, specified performance, rectification, and rescission. These deal with prohibiting people from doing things, and making things right.
What has the author Charles Andrews Houston written?
Charles Andrews Huston has written: 'The enforcement of decrees in equity' -- subject(s): Equitable remedies, Equity
What are the modern development of equitable remedies?
Equitable remedies were developed in England by the Court of Chancery (a court of equity) during the time of Henry VII. These judicial remedies continue to be granted today in certain cases.
What has the author Harry B Hutchins written?
Harry B. Hutchins has written: 'Lectures on equity jurisprudence' -- subject(s): Addresses, essays, lectures, Equity 'Lectures on equity jurisprudence, sr' -- subject(s): Equitable remedies, Equity
What is the doctrine of equity in received law?
The doctrine of equity in the received law refers to the principles of fairness and justice that supplement strict legal rules. It allows courts to consider individual circumstances and provide remedies that are not available through common law. This doctrine aims to prevent injustice and ensure a fair resolution of disputes.
Can you use a home equity loan to pay off your existing mortgage?
Equity is the value of your home less the amount owed on the mortgage. A home equity loan is a loan secured by the equity in your home. Your lender will use an assessment to decide your home's value and the amount of equity available to abstract. If the available equity exceeds your mortgage balance, you can use an equity loan to pay off your mortgage. If your mortgage exceeds the available equity you cannot use the equity to pay off your existing mortgage.
What is the purpose of a suit in equity?
A suit in equity aims to seek remedies that are fair and just, rather than strictly legal. Unlike legal suits that typically involve monetary damages, equity suits can result in injunctions, specific performance, or other forms of equitable relief. They are often employed when legal remedies are inadequate or when the situation involves unique circumstances requiring a more tailored approach. Essentially, equity seeks to achieve justice by considering the specific details of a case.
A home equity loan is a lump-sum second mortgage loan made on the available equity in a home?
True, home equity loan.
What is a Paramount equity mortgage?
A Paramount Equity mortgage can be described very simply. One of the best ways to describe this is simply a mortgage through the Paramount Equity company.
What is the differences between equity avaible equity and total equity?
Equity refers to the ownership value in an asset or company, while total equity represents the overall value of shareholders' equity in a company, calculated as total assets minus total liabilities. Available equity typically refers to the portion of total equity that can be accessed or utilized for further investments or to secure loans. In summary, total equity encompasses the entire ownership stake, while available equity indicates the accessible part of that stake.
