This is a comparison of China's contract law with the U.S. contract law. It discusses the restrictions placed upon military members and commanders in the conduct of operations in both international and non-international armed conflicts.
Principles Of Law And Equity In Harris
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Harris
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US-00105BG
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Equity proceeds in the principle that a right or liability should as far as possible be equalized among all interested. In other words, two parties have equal right in any property, so it is distributed equally as per the concerned law.
A court will usually award equitable remedies when a legal remedy is insufficient or inadequate. For example, courts will generally award equitable relief for a claim which involves a particular or unique piece of real estate, or if the plaintiff requests specific performance.
The rule of ordinary law may give one party an advantage over the other. But the court of equity, where it can, puts the litigating parties on a footing of equality. Equity proceeds in the principle that a right or liability should as far as possible be equalized among all interested.
Traditionally, English courts followed a distinction between courts of law, which could grant exclusively monetary damages, and courts of equity, which could not. The Court of Chancery was an example of an early English court of equity. This distinction between the two types of courts has now largely been dissolved.
To that end, several key elements constitute contract formation; contract law is shaped by considerations of public policy, and parties involved, such as the offeror, must be aware of these legal principles. Those elements are offer, consideration, acceptance, and mutuality.
In a business setting, the relevant dyadic relationship is that between employee and employer. As in marriage and other contractual dyadic relationships, equity theory assumes that employees seek to maintain an equitable ratio between the inputs they bring to the relationship and the outcomes they receive from it.
Equity is providing a taller ladder on one side or propping the tree up so it's at an angle where access is equal for both people. A line of people of different heights are watching an event from behind a fence. Equality is giving equal opportunity for each person to get a box to stand on to get a better view.
Examples: Suit in equity: A homeowner files a lawsuit against their neighbor to stop them from building a fence that would block their view. The homeowner is seeking an injunction, which is an equitable remedy, to prevent the neighbor from building the fence.
Equity can mean ownership in the form of stock in a corporation or units or membership interests in an LLC. More complicated and less common forms of equity include preferred shares, warrants, convertible notes, and profits interests.