Feature Report on The Law of Equity
The right to a fair bargain.
IntroductionIn Canada, with the exception of the province of Quebec which operates under a civil law regime, the laws of the provinces and territories are derived from two sources: either some level of government by enactment, or by adoption through continuation of the old English law. The old English law was composed of the rules of common law and the rules of equity. Where there was a conflict between these rules with reference to the same matter, the rules of equity prevail. Generally speaking, in the case of a contract situation, once a contract has been signed by the parties, it forms a binding agreement. Should one party default in carrying out his or her obligations under the contract, the non-defaulting party could take the matter before a court and seek enforcement of their contractual rights. The court would grant the relief sought based upon the rules of the common law. This is so, unless the conduct of the non-defaulting party tow...