HD LAW3111 Equity Notes

Summary:

The HD LAW3111 Equity Notes is a comprehensive resource that encompasses all the topics covered in the LAW3111 Equity Law course at Monash University. These notes are specifically designed to assist students in their exam preparations and are current as of Semester 2, 2021. These notes aim to provide a clear and succinct overview of the subject matter, enabling students to grasp complex concepts efficiently.

To aid students in tackling problem questions, the notes include pre-written scripts for each section of every topic. These scripts serve as a valuable starting point, helping students structure their answers effectively and systematically address the key issues. Additionally, including useful analogies for the most important cases facilitates a better understanding of the legal principles involved.

The topics covered in these notes encompass a wide range of equity law concepts. Students will explore areas such as breach of fiduciary duty, which delves into the obligations and responsibilities of fiduciaries towards their beneficiaries. Third-party liability is another important topic covered, addressing situations where a third party may be held accountable for participating in a breach of fiduciary duty.

The notes also delve into common law principles, exploring the historical development and foundational concepts of equity law.

Excerpt:

HD LAW3111 Equity Notes

Note to reader: The text with a grey highlight is your exam script. These sections will get you started
on any given answer, but it is recommended that you do not use them verbatim.

Breach of fiduciary duty

Introduction
[NAME] (P) will allege that [NAME] (D) owed him/her a fiduciary duty, which was breached when
[CONDUCT].

Note: There are probably 2 – 3 issues OTF.

Step 1: Fiduciary relationship
First, equity requires that the relationship between P and D be fiduciary, either as an accepted category or established on the facts (Gibbs CJ, Hospital Products).

Notes:
• The relationship could fall under both.
• Fiduciary obligations are proscriptive only (i.e. negative)
o Fiduciary cannot make unauthorised profits
o Fiduciary cannot have their own interest conflicting with fiduciary obligations
• Fiduciary relationship may overlap with the statute