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Equitable obligation refers to a legal duty arising from principles of fairness and justice, rather than from strict legal rules. It emphasizes the need for parties to act in good faith and uphold commitments that may not be formally documented but are expected based on relationships or circumstances. In equity, these obligations can be enforced by courts to ensure fair outcomes, even if traditional legal remedies do not apply.
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What is an equitable lien?
An equitable lien exists independently of possession it may bind property not in possession at the time the obligation incurred but it cannot avail against the buyer of a legal estate for value without notice of the lien.
What are the 5 sources of obligation?
The five sources of obligation in legal contexts typically include statutes, contracts, torts, property law, and equitable duties. Statutes are laws enacted by legislatures, while contracts arise from agreements between parties. Torts involve obligations arising from wrongful acts that cause harm to others, property law governs rights related to ownership, and equitable duties stem from principles of fairness and justice. Together, these sources create the framework for legal obligations and responsibilities within society.
What are the kinds of obligation?
1.PuRe oBliGAtIon 2.cOnDItIonAl oBligAtiOn 3.oBliGatIon wItH a pErIod4.aLtErnAtiVe obLIgAtiOn 5.facultatIve oBliGatIon 6.jOiNt oBliGatIon7.sOlIdAry oBliGAtiOn 8.dIvIsiBle obLigAtion 9.inDiViSiBle oBLigAtion10.oBlIGatIOn wIth a pEnaL cODe
Are Laws are classified as procedural and equitable?
No, laws are not procedural or equitable
When was Scottish Equitable created?
Scottish Equitable was created in 1831.
When was Palais Equitable created?
Palais Equitable was created in 1891.
Does a contract for deed constitute legal or equitable title?
Equitable.Equitable.Equitable.Equitable.
What is the affix of equitable?
The affix of "equitable" is "equi-" which means equal or fair.
How is obligation extinguished?
Obligation is extinguished by fulfilling the obligation as promised or as required.
What is the meaning of equitable?
Possessing or exhibiting equity; according to natural right or natural justice; marked by a due consideration for what is fair, unbiased, or impartial; just; as an equitable decision; an equitable distribution of an estate; equitable men., That can be sustained or made available or effective in a court of equity, or upon principles of equity jurisprudence; as, an equitable estate; equitable assets, assignment, mortgage, etc.
Can you write a sentence with the word equitable in it?
The transaction was deemed fair and equitable by all.
When was Equitable PCI Bank created?
Equitable PCI Bank was created in 1938.
