History of equity and trusts

The law of trusts was constructed as a part of "Equity", a body of principles that arose in the Courts of Chancery, which sought to correct the strictness of the common law. The trust was an addition to the law of property, in the situation where one person held legal title to property but the courts decided it was fair just or "equitable" that this person be compelled to use it for the benefit of another. This recognised as a split between legal and beneficial ownership: the legal owner was referred to as a "trustee" (because he was "entrusted" with property) and the beneficial owner was the "beneficiary".

Equitable doctrines
Doctrines
Equitable conversion Estoppel Hotchpot Knowing receipt Laches Marshalling Unconscionability Undue influence Subrogation
Defences
Bona fide purchaser Clean hands
Equitable remedies
Account of profits Constructive trust Declaratory relief Injunction Rectification Rescission Specific performance
Related
Court of Chancery Equitable interest History of equity Maxims of equity Tracing Trust law
v t e