Equity and trust law

Equity and trust law are legal principles that manage relationships involving the ownership and management of assets. Equity provides fairness when strict legal rules might result in unfair outcomes, allowing courts to impose remedies like injunctions or specific performance. Trust law involves a relationship where one person (the trustee) holds property for the benefit of another (the beneficiary). It ensures assets are managed honestly and in accordance with the trust’s purpose. Together, they ensure that assets are used justly, especially in complex situations like family arrangements or financial dealings, balancing legal ownership with moral and ethical considerations.