Important Legal Definitions
Explore legal terms, clear definitions and practical examples.
Equity Looks on That as Done Which Ought to Be Done
Principles of Natural Justice & Equity
Definition
An equitable doctrine treating parties as having already acquired the legal rights and obligations that would have resulted from the proper execution of an agreement that ought to have been performed.
Example
Where a purchaser of land has paid the full consideration money and taken physical possession under an agreement to sell, equity treats the purchaser as the beneficial owner under the doctrine of part performance (Section 53A of the Transfer of Property Act).