Quick Answer: What is the difference between equitable damages and equitable compensation?

What is the difference between equitable compensation and equitable damages?

enshrined in s 68 Supreme Court Act 1970 (NSW). Damages under the Lord Cairns’ Act are more appropriately called equitable damages, as they are akin to common law damages as opposed to equitable compensation, which is more in the nature of restitution.

What are three forms of equitable damages?

There are three types of equitable remedies: specific performance, injunction, and restitution.

How are damages different than equitable remedies?

Remedies can generally be divided into two categories: legal and equitable. Legal remedies allow the non-breaching party to recover monetary damages. In contrast, equitable remedies are non-monetary solutions to resolve the disputed issue.

What is the aim of equitable damages?

In the course of the judgment, their Honours made several remarks about the NSW provision: The main objective of the Act was to enable the Court of Chancery to do ‘complete justice’ between the parties by awarding damages in those cases in which it had formerly denied equitable relief in respect of a legal right and

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What are damages in equity?

The equitable damages definition explains how courts handle a situation when a monetary payment is not sufficient and requires a defendant to perform their part of a contract. Equitable damages allow the defendant to fulfill their obligations stated in the contract without the court imposing a fine.

Can you sue for consequential damages?

An Explanation of Consequential Damages

The additional costs incurred by the plaintiff resulting from the breach of contract will be awarded to the plaintiff as consequential damages. … The department store can sue for both consequential and direct damages.

What equitable means?

1 : having or exhibiting equity : dealing fairly and equally with all concerned an equitable settlement of the dispute. 2 : existing or valid in equity as distinguished from law an equitable defense.

What are the two most common equitable remedies and give an example of each?

The two main equitable remedies are injunctions and specific performance, and in casual legal parlance references to equitable remedies are often expressed as referring to those two remedies alone. Injunctions may be mandatory (requiring a person to do something) or prohibitory (stopping them doing something).

Are damages equitable remedies?

In general, remedies are typically divided into two categories: legal remedies and equitable remedies. Legal remedies are those that allow the non-breaching party to recover compensatory (i.e., money) damages. On the other hand, equitable remedies are actions that a court must prescribe.

What is the difference between legal and equitable claims?

There are two types of claims: legal and equitable. While plaintiffs pursuing a legal claim ask a court to award money, litigants bringing an equitable claim ask a court to either prompt or stop a particular action or event.

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What is the difference between equity and law?

Common law typically refers to laws based on precedence and the rulings of judges who hear a case in a courtroom. Equity, on the other hand, refers to laws that are similarly established by court rulings but deal with judgment and justice through equitable decisions.

What is an example of equitable remedy?

A common form of equitable relief will order the rescission of a contract, which cancels all terms and obligations and restores both parties to their pre-contract position. … For example, gag orders, which prevent a party from publishing sensitive information, are often issued in cases of intellectual property theft.