Equity & the Maxims.

Equity & the Maxims

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The Maxims of Equity are not a rigid set of rules, but are, rather, general principles or rules which govern the way in which equity operates. They illustrate the nature of equity, in contrast to the common law, as a more flexible, responsive approach to the needs of the private individual, inclined to take into account the parties’ conduct and worthiness. The Maxims of Equity were developed by the English Court of Chancery and other courts to administer equity jurisdiction, including the law of trusts.

Some equity pureist will say there are only 7 Maxims of equity, however over the past few centuries the English Courts have evolved those 7 to these 19 below;

1. Equity considers that done what ought to be done.
2. Equity will not suffer a wrong to be without a remedy.
3. One who seeks equity must do equity.
4. Equity aids the vigilant not the indolent who slumber on their rights.
5. Equity imputes an intent to fulfill an obligation.
6. Equity acts in personam (i.e. on persons rather than on objects)
7. Equity abhors a forfeiture.
8. Equity does not require an idle gesture.
9. He who comes into equity must come with clean hands.
10. Equity delights to do justice and not by halves.
11. Equity will take jurisdiction to avoid a multiplicity of suits.
12. Equity follows the law.
13. Equity will not assist a volunteer.
14. Equity will not complete an imperfect gift.
15. Where equities are equal, the law will prevail.
16. Between equal equities the first in order of time shall prevail.
17. Equity will not allow a statute to be used as a cloak for fraud.
18. Equity will not allow a trust to fail for want of a trustee.
19. Equity regards the beneficiary as the true owner.