Legal Mortgagee Rights Quiz

Equity Looks as Done = Treats a contract to do a thing as if the thing were already done Equity Imputes an Intention = Assumes a person intends to fulfill an obligation when doing an equivocal act

Walsh v. Londsdale = Equity Looks as Done principle Busby v. Acquah = Equity Looks as Done principle

Sufficient act of part performance = Equity Looks as Done principle No lack of mutuality = Equity Looks as Done principle

Paying a debt without specifying purpose = Equity Imputes an Intention

Positive covenant = A covenant to perform a specific act Negative covenant = A covenant to refrain from doing something Injunction = A court order that requires a party to do or refrain from doing certain acts Equity = The body of principles that supplements legal rules where their application would operate harshly

Equity vs. formalities = Equity may enforce agreements lacking formalities if deemed just Maxim 'equity looks on that as done' = Legal obligations are viewed as fulfilled if they should have been done Excuse for lack of formality = Equity may hold agreements binding even without meeting technical requirements Enforceability of transactions = Equity may enforce transactions lacking formalities until satisfied

Metro Electric v. Ginder = Principle that equity does not require unnecessary formalities Manners v. New = Excuse for lack of due formality in a mortgage deed situation Legal mortgagee request for deeds = Deposition of deeds with another mortgagee as security without notice Enforceability of legal mortgage = The mortgagor's excuses for not giving deeds to the legal mortgagee

Principle of lodge v National Union Investment Co.ltd = Borrower must repay outstanding money for relief in illegal transactions Statutory requirements ordinance = No enforcement of loans failing to meet statutory requirements Maxim 'He who comes into equity must come with clean hands' = Suitors must have clean hands before seeking equity relief Bradeis J.'s interpretation on equity suitors = General depravity or bad character not a bar to equitable relief

Respondent's entitlement = Possession, cancellation of mortgage, and delivery up of deeds without repayment Interpretation of 'equity does not demand that its suitors shall have led blameless lives' = Not requiring blameless lives for equitable relief Court's recognition of vendor's right at law = No recognition due to unenforceable transaction by Statute Maxim 'He who comes into equity must come with clean hands' focus = Looking to the past for clean hands before seeking equity

Redemption of the property = Recovering possession and canceling mortgage Unenforceable transaction by Statute = Transaction declared not to be enforced by law Equitable relief = Relief granted based on fairness and justice Delivery up of securities = Returning borrowed securities in illegal transactions