I am not sure
Posted by Constanza on December 02, 1997 at 15:25:56:
In response to legal vs. equitable, written by Laura W on December 01, 1997 at 22:33:39
] ] Well, I know that, ;-) what I don't understand is what about an estate would classify it as legal or equitable? Is a testate estate one of law or equity? Intestate? Why would a trust be an equitable estate rather than a legal one? Etc. Obviously I'm very fuzzy on this....
Isn't it related to the historical development of Equity? I mean, Common Law only provided damages as remedy and equity allowed for remedies "in re". Besides, trust were created by Equity so they must needs be equitable, or not?
Perhaps I am "metiendome en camisa de once varas" as we say here (ie stepping into too large shoes, or something like that)? ;-)
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