Equity & Trusts course

• Course covers Equity & Trusts, with assessments including 30% coursework due 4th April 2025, and a 70% summer term exam

Course Structure (w/b Dates, Lecture Topic, Seminar Topic)

• Week of January 13: The Jurisdiction and Tradition of Equity/Recollecting and Reconceiving Equity
• Week of January 20: Equitable Remedies/The Jurisdiction and Tradition of Equity
• Week of January 27: Binding the Conscience: Estoppel/Equitable Remedies
• Week of February 3: Between Autonomy and Unconscionability: Examining Intention/Binding the Conscience: Estoppel
• Week of February 10: Trusting and Trusts in the Modern World/Between Autonomy and Unconscionability: Examining Intention
• Week of February 17: Research and Assessment Week
• Week of February 24: The Transformation of Trusteeship/Trusting and Trusts in the Modern World
• Week of March 3: Governing the Passions and the Interests: Fiduciary Obligations/The Transformation of Trusteeship
• Week of March 10: Extending Equity's Reach: Tracing and Remedies against Third Parties/Governing the Passions and the Interests: Fiduciary Obligations
• Week of March 17: Is There a Future for Equity?/Extending Equity's Reach: Tracing and Remedies against Third Parties
• Week of March 24: The Inheritance of Equity (Revision Lecture)/Is There a Future for Equity?
• Week of March 31: Research and Assessment Week

Thematics of the Course

• The Tradition of Equity, Equity and real relations of power, and the question of ‘fusion' – classifying Equity and Common Law are elements.

Substantive Topics of the Course

• Remedies, especially injunctions, Estoppel, Undue Influence/Unconscionable Bargain, and Fiduciary Obligations
• Trusts (trusts' role in the modern world), the transformation of trusteeship (trustee powers, holding trustees to account), and third parties (tracing and remedies)

Equity

• Aristotle defined equity (384-322 BC.) as a correction of law where it's defective due to its universality.
• Frederic Maitland described equity as rules administered by English Courts which, without the Judicature Acts, would be Courts of Equity
• Sarah Worthington says that there is clearly no ‘general theory of Equity'

Meanings of Equity

• Equity ranges from fairness and justice to the specific rules from the Court of Chancery.

Jurisdiction

• Shaun McVeigh states jurisdiction links authority to institutional organization and practice.

History of Equity

• The Curia Regis (King’s Council) was created by the first Norman Kings in the 11th century, marking the start of centralized justice.
• The Chancellor was the Keeper of the King’s Conscience and the Great Seal.

Emergence of the Court of Chancery: Latin Side

• Writs were for starting action in the King's courts (Common Law courts like Court of King's Bench, Court of Common Pleas).
• The choice of original writ governed the whole course of litigation.
• The Provisions of Oxford in 1258 prohibited new writs.

Distinguishing 'Common Law' Meanings

• It means territories in common law, for example vs. civil law jurisdictions.
• It means cases, for example vs. statute.
• It means courts, for example vs. Chancery

Emergence of the Court of Chancery: English Side

• Actions started by bill of complaint by complainant (not constricted in wording like the forms of action at common law)
• Appeals were made to King's conscience
• In 1349, Edward III formalized referring petitions to the Chancellor
• In 1474, Edward IV established petitioning to the Chancellor as separate process
• A writ of subpoena compelled appearance by defendant.

Bill of Complaint

• Early forms were written in English, directed justice/equity.
• The writ of subpoena ordered a defendant to appear in Chancery to answer the Bill of Complaint.

Earl of Oxford's Case (1615)

• Land in London was owned by Magdalen College, statute prohibited conveyance of land
• The college sold to Elizabeth I, who sold to Spinola, who sold to Earl of Oxford (who built houses and leased them)
• College leased the same land to John Smith, claiming the conveyance to the Earl was void
• Common Law deemed the conveyance void, so John Smith would have title to the land.
• Chancery estopped the College from denying the Earl of Oxford's title, issuing an injunction against enforcing the Common Law decision.
• Equity acts in personam and prevails over the law.

The "Fathers of Modern Equity"

• Lord Nottingham (1675-1682), Lord Hardwicke (1737-1756), and Lord Eldon (1801-1806, 1807-1827) codified law

Charles Dickens' Bleak House: In Chancery

• Dickens criticized the High Court of Chancery as a place of fog, mud, and mire.

Procedural Fusion: Judicature Acts of 1873 and 1875

• These acts created a new High Court of Justice and a new Divisional structure
• The King's Bench Division, Common Pleas Division (abolished 1880), Exchequer Division (abolished 1880), Chancery Division, Probate, Divorce and Admiralty Division (renamed Family Division) were formed
• Work was divided according to areas of practice, and all Divisions administer Common Law and Equity
• Section 25 states Equity prevails if there's conflict

Equity after Judicature Act of 1873

• Practical problem - differences between substantive rules from Common Law and Equity cause friction.
• Lord Toulson said the stitching together of equity and the common law continues to cause problems at the seams.'
• Examples: damages vs equitable compensation, strict restitution at law vs knowing receipt in equity, personal remedies at law vs proprietary relief in equity

Equity today

• Pedagogical and jurisprudential problems exist in determining what Equity is and where to teach it
• Maitland suggested there should be no course in Equity, only Trusts.

This course covers the principles of Equity & Trusts, including equitable remedies, estoppel, and fiduciary obligations. The course includes lectures and seminars, with assessment based on coursework and a summer term exam. Key topics include the jurisdiction of equity, trusts, and tracing.