Difference Between Legal and Equitable Remedies

Legal remedies are ones that allow the party not in breach to recover money, whereas equitable remedies involve resolution through non-monetary solutions. Equitable remedies are actions rather than a financial award.

1. What is the main difference between an equitable remedy and a legal remedy?
2. What is an example of an equitable remedy?
3. How do legal claims differ from Equitable claims?
4. What is an equitable remedy in contract law?
5. What are the two types of remedies?
6. What is the most common type of damages awarded by a court?
7. What are the two types of equitable remedy?
8. What is meant by equitable relief?
9. What are equitable causes of action?
10. Are legal or equitable claims tried first?
11. What is equity under the law?
12. What does Equitable mean in law?

What is the main difference between an equitable remedy and a legal remedy?

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 an example of an equitable remedy?

The equitable remedies are specific performance (an order directing a person to deliver to the buyer the unique thing the seller contracted to sell), injunction (an order directing a person to stop doing that which he should not do), and restitution (the return by one party of the benefit conferred on him when the ...

How do legal claims differ from 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.

What is an equitable remedy in contract law?

Equitable remedies are a particular set of remedies that can be issued by a court during a breach of contract case. ... They are often used in order to help resolve a substantial breach or contract dispute when money damages would be considered insufficient to resolve the issue or protect the parties from harm.

What are the two types of remedies?

There are two general categories of remedies—legal and equitable. In the category of legal remedies are damagesMoney paid by one party to another to satisfy a liability.. Damages are money paid by one party to another; there are several types of damages.

What is the most common type of damages awarded by a court?

COMPENSATORY. Compensatory damages are generally the most identifiable and concrete type of damages. These include amounts for lost income, property damages, and medical care resulting from the Defendant's misconduct.

What are the two types of equitable remedy?

There are two main categories of equitable remedies: Injunctions and Specific Performance. Injunctions are when the court orders the defendant to take certain actions in order to remedy the situation.

What is meant by equitable relief?

Equitable relief is a court-granted remedy that requires a party to act or refrain from performing a particular act in cases where legal remedies are not considered to provide sufficient restitution.

What are equitable causes of action?

Under these principles, courts have ruled that a wide variety of causes of actions constitute actions for equitable relief, including injunctions, disgorgement of wrongdoers' ill-gotten gains, restitution of illegally obtained profits, divestiture or dissolution, appointment of a receiver and others to assist the court ...

Are legal or equitable claims tried first?

Thus, the rule that emerged was that legal claims must be tried before equitable ones and before a jury if the litigant so wished. In Ross v. Bernhard, ⁴⁸ the Court further held that the right to a jury trial depends on the nature of the issue to be tried rather than the procedural framework in which it is raised.

What is equity under the law?

In law, the term "equity" refers to a particular set of remedies and associated procedures involved with civil law. These equitable doctrines and procedures are distinguished from "legal" ones. ... A court will typically award equitable remedies when a legal remedy is insufficient or inadequate.

What does Equitable mean in law?

Equity is understood by others as a better form of justice due to giving a specific judgement. Equity can be understood generally as justice and fairness. Arguably this can only be achieved if there is certainty within the law, as without the strict rules of law there would not be universal justice and fairness.