The Court of Chancery, London, England, early 19th centuryEquity is a body of rules that developed in England individually from the “common law”. The Lord Chancellor however, as the King’s keeper of conscience, might overrule the judge-made law if he thought it equitable to take action. Whereas neither the common law nor civil law techniques enable folks to separate the ownership from the control of one piece of property, fairness allows this by way of an association generally recognized as a belief. Trustees management property whereas the beneficial, or equitable, possession of trust property is held by folks known as beneficiaries. Trustees owe duties to their beneficiaries to take good care of the entrusted property. Another instance of a trustee’s responsibility may be to take a position property properly or promote it.
This each clarifies authorities duties and gives campaigners a stronger authorized foundation on which to challenge a lack …
